Readings in Money and Banking |
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Page 141
... rise of prices and the depreciation of the exchange , but it followed slowly and at great distance . The circulation increased from May 1921 to the end of January 1923 by 23 times ; it is not possible that this increase had caused the rise ...
... rise of prices and the depreciation of the exchange , but it followed slowly and at great distance . The circulation increased from May 1921 to the end of January 1923 by 23 times ; it is not possible that this increase had caused the rise ...
Page 164
... rise of prices is foreseen , attempts to get advantage from this by increased borrowing force the money rates of ... rise of prices , but the expectation of a rise compounded of the various possible price - movements and the estimated ...
... rise of prices is foreseen , attempts to get advantage from this by increased borrowing force the money rates of ... rise of prices , but the expectation of a rise compounded of the various possible price - movements and the estimated ...
Page 165
... rise in its endeavour to keep up with the real rate , when prices have continued to rise for so long and with such violence that , rightly or wrongly , every one believes that they will continue to rise further . Yet even there the ...
... rise in its endeavour to keep up with the real rate , when prices have continued to rise for so long and with such violence that , rightly or wrongly , every one believes that they will continue to rise further . Yet even there the ...
Contents
Why Bother? | 3 |
The Theory of Money | 12 |
The Evolution of | 23 |
Copyright | |
18 other sections not shown
Common terms and phrases
assets balance bank failures bank notes Bank of England bank's bankers banking crises banking panics banking system bonds borrow branch banking capital cash central bank changes charter circulation clearinghouse commercial banks commodity money costs countries crisis currency demand deposits deposit insurance depositors discount dollar economic economists effect excess demand exchange Federal Reserve Bank Federal Reserve System fractional-reserve banking free banking funds George Selgin gold standard growth rate History income increase inflation inside money institutions interest rates investment last resort lender of last liabilities loans losses ment Milton Friedman monetary authority monetary policy money supply national banks natural rate note issue noteholders operations payments percent period price level price of gold production profits purchasing power rate of interest real output real rate redeem regulation reserve requirements restrictions rise rule securities stability theory thrifts tion trade trend United value of money velocity wages wildcat banking York