Format:
1 Online-Ressource (circa 40 Seiten)
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Illustrationen
ISBN:
9781513566429
Series Statement:
IMF working paper WP/21, 6
Content:
In this paper, we discuss the modern history of monetarism and its alternatives, as well as the changing empirical relationship of various measures of money and inflation. After demonstrating that previous naïve correlations between money and inflation as established in the 20th century literature have largely disappeared, we explain why this cannot be taken as support for an increased reliance on permanent monetary finance. Rather, we argue that rapid technological innovation in payments systems-both public and private-including in global pledged collateral markets, portends a declining demand for central bank liabilities
Additional Edition:
Erscheint auch als Druck-Ausgabe Some Alternative Monetary Facts Washington, D.C. : International Monetary Fund, 2021 ISBN 9781513566429
Language:
English
Keywords:
Graue Literatur
DOI:
10.5089/9781513566429.001
Author information:
Kumar, Manmohan S.
