Readings in Money and Banking |
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Page 132
... theory of the relationship be- tween money and prices . Under this more general theory , changes in the money stock may result in changes in real output or prices ( or both ) in the short run , but result primarily in price level ...
... theory of the relationship be- tween money and prices . Under this more general theory , changes in the money stock may result in changes in real output or prices ( or both ) in the short run , but result primarily in price level ...
Page 243
... theories , including the conventional theory of banking crises , come from British and especially American economists , who know much more about the economic histories of their own countries than they know about experiences else- where ...
... theories , including the conventional theory of banking crises , come from British and especially American economists , who know much more about the economic histories of their own countries than they know about experiences else- where ...
Page 245
... theory of crises , the " legal restrictions " theory proposed here is multicausal rather than uni- causal . The conventional theory's unicausal view of crises is , in- deed , one of its clear weaknesses . Unicausal explanations of com ...
... theory of crises , the " legal restrictions " theory proposed here is multicausal rather than uni- causal . The conventional theory's unicausal view of crises is , in- deed , one of its clear weaknesses . Unicausal explanations of com ...
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