Money Creation

Author : Sergio M. Focardi
Publisher : Routledge
Page : 188 pages
File Size : 51,7 Mb
Release : 2018-03-19
Category : Business & Economics
ISBN : 9781315391045

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Money by Sergio M. Focardi Pdf

By enabling the storage and transfer of purchasing power, money facilitates economic transactions and coordinates economic activity. But what is money? How is it generated? Distributed? How does money acquire value and that value change? How does money impact the economy, society? This book explores money as a system of "tokens" that represent the purchasing power of individual agents. It looks at how money developed from debt/credit relationships, barter and coins into a system of gold-backed currencies and bank credit and on to the present system of fiat money, bank credit, near-money and, more recently, digital currencies. The author successively examines how the money circuit has changed over the last 50 years, a period of stagnant wages, increased household borrowing and growing economic complexity, and argues for a new theory of economies as complex systems, coordinated by a banking and financial system. Money: What It Is, How It’s Created, Who Gets It and Why It Matters will be of interest to students of economics and finance theory and anyone wanting a more complete understanding of monetary theory, economics, money and banking.

Author : Josh Ryan-Collins,Tony Greenham,Richard Werner
Publisher : Unknown
Page : 186 pages
File Size : 42,5 Mb
Release : 2014-01-31
Category : Banks and banking
ISBN : 1908506547

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Where Does Money Come From? by Josh Ryan-Collins,Tony Greenham,Richard Werner Pdf

Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.

Author : Mr.Manmohan Singh
Publisher : International Monetary Fund
Page : 22 pages
File Size : 50,7 Mb
Release : 2012-07-01
Category : Business & Economics
ISBN : 9781475505276

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The (Other) Deleveraging by Mr.Manmohan Singh Pdf

Deleveraging has two components--shrinking of balance sheets due to increased haircuts/shedding of assets, and the reduction in the interconnectedness of the financial system. We focus on the second aspect and show that post-Lehman there has been a significant decline in the interconnectedness in the pledged collateral market between banks and nonbanks. We find that both the collateral and its associated velocity are not rebounding as of end-2011 and still about $4-5 trillion lower than the peak of $10 trillion as of end-2007. This paper updates Singh (2011) and we use this data to compare with the monetary aggregates (largely due to QE efforts in US, Euro area and UK), and discuss the overall financial lubrication that likely impacts the conduct of global monetary policy.

Author : Bart Stellinga,Josta de Hoog,Arthur van Riel,Casper de Vries
Publisher : Springer Nature
Page : 257 pages
File Size : 53,9 Mb
Release : 2021
Category : Banks and banking, Central
ISBN : 9783030702502

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Money and Debt: The Public Role of Banks by Bart Stellinga,Josta de Hoog,Arthur van Riel,Casper de Vries Pdf

This Open Access book from the Netherlands Scientific Council for Government Policy explains how money creation and banking works, describes the main problems of the current monetary and financial system and discusses several reform options. This book systematically evaluates proposals for fundamental monetary reform, including ideas to separate money and credit by breaking up banks, introducing a central bank digital currency, and introducing public payment banks. By drawing on these plans, the authors suggest several concrete reforms to the current banking system with the aim to ensure that the monetary system remains stable, contributes to the Dutch economy, fairly distributes benefits, costs and risks, and enjoys public legitimacy. This systematic approach, and the accessible way in which the book is written, allows specialized and non-specialised readers to understand the intricacies of money, banking, monetary reform and financial innovation, far beyond the Dutch context [Resumen de la editorial]

Author : Andrew Jackson (Economist),Ben Dyson (Economist)
Publisher : Unknown
Page : 334 pages
File Size : 51,5 Mb
Release : 2012-11
Category : Banks and banking
ISBN : 095744480X

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Modernising Money by Andrew Jackson (Economist),Ben Dyson (Economist) Pdf

As the title suggests, this book explains why the current monetary system is broken, and explains exactly how it can be fixed. The product of three years research and development, these proposals offer one of the few hopes of escaping from our current dysfunctional monetary system.

Author : Aaron Sahr
Publisher : Verso Books
Page : 145 pages
File Size : 45,6 Mb
Release : 2022-03-01
Category : Political Science
ISBN : 9781839761195

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Keystroke Capitalism by Aaron Sahr Pdf

Why society needs to reclaim the power to create money At the heart of capitalism lies the ability of private banks to create money at the stroke of a key. Why have we ignored this unique privilege for so long – and at what cost? Aaron Sahr attributes the lack of attention paid to money creation to the core of popular theories of capitalism, which equate economic power with capital ownership. This conceptual framework obscures the real drivers of capitalist dynamics as well as the causes of increasing inequality. By exploring the transformation of banking over the last half century, Sahr shows how the creation of money has driven the rise of finance as well as splitting incomes from wealth. As a result, the real economy of ordinary people has become a debt supplier to a monetary system whose returns accumulate at the top. It is not simply the markets but money itself that transfers wealth from the masses to a minority. Increasing financial inequality can therefore only be remedied by addressing predistribution – the modalities of money creation – as well as the distributive effects of the markets. By mapping this hidden regime of ‘keystroke capitalism’, Sahr makes an essential contribution to our understanding of economic inequality and capitalist dynamics.

Author : Ed Burgi
Publisher : Unknown
Page : 146 pages
File Size : 48,5 Mb
Release : 1994
Category : Business & Economics
ISBN : PSU:000025529777

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Money Creation by Ed Burgi Pdf

Self published text on the creation of money written for the general public. Considers the origin of money and banking in Australia and argues that the responsibility of creating money should not be in the hands of the banks, but rather the state. Includes a bibliography.

Author : Joseph Huber,James Robertson
Publisher : Unknown
Page : 92 pages
File Size : 46,7 Mb
Release : 2000
Category : Monetary policy
ISBN : 1899407294

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Creating New Money by Joseph Huber,James Robertson Pdf

Author : Ann Pettifor
Publisher : Verso Books
Page : 192 pages
File Size : 51,8 Mb
Release : 2017-03-28
Category : Business & Economics
ISBN : 9781786631374

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The Production of Money by Ann Pettifor Pdf

What is money, where does it come from, and who controls it? In this accessible, brilliantly argued book, leading political economist Ann Pettifor explains in straightforward terms history’s most misunderstood invention: the money system. Pettifor argues that democracies can, and indeed must, reclaim control over money production and restrain the out-of-control finance sector so that it serves the interests of society, as well as the needs of the ecosystem. The Production of Money examines and assesses popular alternative debates on, and innovations in, money, such as “green QE” and “helicopter money.” She sets out the possibility of linking the money in our pockets (or on our smartphones) to the improvements we want to see in the world around us.

Author : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 51,5 Mb
Release : 2002
Category : Banks and Banking
ISBN : 0894991965

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The Federal Reserve System Purposes and Functions by Board of Governors of the Federal Reserve System Pdf

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Author : Christine Desan
Publisher : Oxford University Press, USA
Page : 501 pages
File Size : 55,6 Mb
Release : 2014
Category : Business & Economics
ISBN : 9780198709572

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Making Money by Christine Desan Pdf

In this revisionist history of the development of the modern monetary system, Christine Desan argues that money effectively creates economic activity rather than emerging from it. Her account demonstrates that money's design has been a project central to governance and formative to markets.

Author : Mr.Marco Gross,Christoph Siebenbrunner
Publisher : International Monetary Fund
Page : 40 pages
File Size : 46,8 Mb
Release : 2019-12-20
Category : Business & Economics
ISBN : 9781513524993

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Money Creation in Fiat and Digital Currency Systems by Mr.Marco Gross,Christoph Siebenbrunner Pdf

To support the understanding that banks’ debt issuance means money creation, while centralized nonbank financial institutions’ and decentralized bond market intermediary lending does not, the paper aims to convey two related points: First, the notion of money creation as a result of banks’ loan creation is compatible with the notion of liquid funding needs in a multi-bank system, in which liquid fund (reserve) transfers across banks happen naturally. Second, interest rate-based monetary policy has a bearing on macroeconomic dynamics precisely due to that multi-bank structure. It would lose its impact in the hypothetical case that only one (“singular”) commercial bank would exist. We link our discussion to the emergence and design of central bank digital currencies (CBDC), with a special focus on how loans would be granted in a CBDC world.

Author : Niall Ferguson
Publisher : Penguin
Page : 498 pages
File Size : 55,7 Mb
Release : 2008-11-13
Category : History
ISBN : 9781440654022

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The Ascent of Money by Niall Ferguson Pdf

The 10th anniversary edition, with new chapters on the crash, Chimerica, and cryptocurrency "[An] excellent, just in time guide to the history of finance and financial crisis." —The Washington Post "Fascinating." —Fareed Zakaria, Newsweek In this updated edition, Niall Ferguson brings his classic financial history of the world up to the present day, tackling the populist backlash that followed the 2008 crisis, the descent of "Chimerica" into a trade war, and the advent of cryptocurrencies, such as Bitcoin, with his signature clarity and expert lens. The Ascent of Money reveals finance as the backbone of history, casting a new light on familiar events: the Renaissance enabled by Italian foreign exchange dealers, the French Revolution traced back to a stock market bubble, the 2008 crisis traced from America's bankruptcy capital, Memphis, to China's boomtown, Chongqing. We may resent the plutocrats of Wall Street but, as Ferguson argues, the evolution of finance has rivaled the importance of any technological innovation in the rise of civilization. Indeed, to study the ascent and descent of money is to study the rise and fall of Western power itself.

Author : Thomas Walker,Jane McGaughey,Sherif Goubran,Nadra Wagdy
Publisher : Springer Nature
Page : 524 pages
File Size : 51,8 Mb
Release : 2021-07-29
Category : Business & Economics
ISBN : 9783030725358

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Innovations in Social Finance by Thomas Walker,Jane McGaughey,Sherif Goubran,Nadra Wagdy Pdf

Our world is experiencing increasingly complex social and environmental challenges. The prevailing business models and, to some extent, capitalism per se, are frequently blamed for these problems due to their neglect of social and environmental values in favour of financial returns. Within this context, social finance has attracted the attention of governments, organizations, entrepreneurs, and researchers as a means of mobilizing resources and innovation with the goal of establishing effective long-term solutions. This edited collection summarizes, discusses, and analyzes new innovative trends in social finance. It features contributions that aim to highlight emerging trends (products, tools, and processes) in social finance, present a series of case studies related to the development, deployment, and scaling of social finance innovations, offer an understanding of how non-economic externalities are being incorporated, managed, and assessed in recent innovations, reveal the disruptive potential of social finance innovations by analyzing how they are redefining mainstream finance, analyze the scales – of operation and impact – of different innovations, and explore the complex relationship between social finance and social innovation. Featuring contributions from both the research and practitioner community as well as policy actors, the book provides more than a snapshot of the current social finance field by specifically highlighting the major challenges and difficulties that require the urgent attention of policymakers and social entrepreneurs.

Author : Mr.Jaromir Benes,Mr.Michael Kumhof
Publisher : International Monetary Fund
Page : 71 pages
File Size : 49,5 Mb
Release : 2012-08-01
Category : Business & Economics
ISBN : 9781475505528

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The Chicago Plan Revisited by Mr.Jaromir Benes,Mr.Michael Kumhof Pdf

At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.