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BL
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866179
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| Main Entry
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Thomas, D. G., (D. Gareth)
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| Title & Author
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The creators of inside money : : a new monetary theory /\ D. Gareth Thomas.
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| Publication Statement
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Cham, Switzerland :: Palgrave Macmillan,, 2018.
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| Page. NO
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1 online resource
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| ISBN
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3319902571
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: 9783319902579
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9783319902562
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| Notes
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Includes index.
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| Contents
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Intro; The Creators of Inside Money; Preface; Contents; List of Figures; List of Tables; Chapter 1 The Need for a Financial System?; 1.1 Introduction; 1.2 Saving and Lending; 1.3 Borrowing; 1.4 Lending, Borrowing and Wealth; 1.5 Financial Institutions; 1.6 Financial Markets; 1.7 The Real Economy and the Financial System; 1.7.1 All Money is a Matter of Belief; References and Further Reading; Chapter 2 The Money Supply; 2.1 Introduction; 2.2 The Beginnings of a Monetary Analysis; 2.3 Modelling the Interaction of Agents; 2.4 Conclusion/Summary; References and Further Reading
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4.7 The Monetarists' Revival of the Quantity Theory of Money4.8 The Determination of the Rate of Interest on Savings; 4.9 Conclusion/Summary; References and Further Reading; Chapter 5 The Rate of Interest and the New Monetary Theory of Loanable Funds; 5.1 Introduction; 5.2 Definition and Composition of Nominal Interest Rates; 5.3 Classical Version of Interest Determination: Loanable Funds Theory (LFT); 5.4 The Real Rate of Interest in LFT; 5.5 The Introduction of the Rate of Inflation; 5.6 The Fisher Effect; 5.7 Liquidity Preference Theory (LPT)
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5.8 An Alternative Theory: The New Loanable Funds Theory5.9 Conclusion/Summary; References and Further Reading; Chapter 6 The Term Structure of Interest Rates; 6.1 Introduction; 6.2 The Effect of Term; 6.3 The Effect of Risk; 6.4 The Expectations Theory; 6.5 The Segmented Markets Theory; 6.6 The Liquidity Premium and the Preferred Habitat Theories; 6.7 Using the Term Structure of Interest Rates in the New Loanable Funds Theory; 6.8 Conclusion/Summary; Appendix A: An Econometric Case Study: Does the Expectations Theory Exist?; References and Further Reading
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Chapter 3 The Adjustment Process of the Money Multiplier and the Loanable Funds Model3.1 Introduction; 3.2 The Geometric Mechanism and the Rounds; 3.3 The Loanable Supply Function; 3.4 The Loanable Demand Function and the Equilibrium in the Market; 3.5 Money in an Open Economy; 3.6 Conclusion/Summary; Further Reading; Chapter 4 The Demand for Money: Another Piece of the Jigsaw Puzzle; 4.1 Introduction; 4.2 The Demand for Money; 4.3 The Inventory Approach; 4.4 The Precautionary Motive; 4.5 The Speculative Demand for Money; 4.6 Money Demand and the Rate of Inflation
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Chapter 7 The Loanable Funds Cycle and the Variability of the Deposit Base7.1 Introduction; 7.2 The Loanable Funds Cycle; 7.3 Three Types of Borrowers; 7.4 Inflation and Expansion; 7.5 Sowing the Seeds for a Crisis; 7.6 Deflation and Stagnation; 7.7 Recovery and Growth; 7.8 Conclusions/Summary; Appendix A; Appendix B: A Portfolio Theory of Loanable Funds: Default and Risk; References and Further Reading; Chapter 8 A Catastrophe Theory of the Endogenous Cycle of Loanable Funds; 8.1 Introduction; 8.2 The Catastrophe Theory of the Endogenous Cycle of Loanable Funds
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| Abstract
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This book explores the endogenous creators of inside money, the commercial banks, and their key role in igniting the 2007-8 monetary crisis and the aftermath of the Great Recession. This is an area of study overlooked by the traditional approach in the form of neo-classical analysis, a body of theory based on a barter system of exchange. Money has evolved from a construct of barter to become a medium of exchange based on fiat money and loan creation by the banking system, underpinned by legal tender, and therefore, a creature of law. It is not a phenomenon exogenously controlled by the monetary authorities and simply assumed to be a "veil" over the real economy, which just determines the absolute price level. This monograph, in the eyes of the student, represents critical thinking and the realization of a more precise formulation of the endogenous money supply with various features systematically added in an attempt to derive a fully dynamic model of the monetary system, which will be straightforward to visualize and contrast with the benchmark approach.
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Bank failures-- United States.
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Banks and banking-- Government policy-- United States.
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Financial crises-- United States.
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Bank failures.
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Banks and banking-- Government policy.
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BUSINESS ECONOMICS-- Finance.
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Financial crises.
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Financial services industry.
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Macroeconomics.
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United States.
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| Dewey Classification
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332.10973
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| LC Classification
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HG1573
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