Endogenous Money
Economics, Money supply, Mainstream economics
978-613-9-59136-7
6139591368
84
2012-01-22
34.00 €
eng
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In economics, endogenous money refers to the theory that money comes into existence driven by the requirements of the real economy and that banking system reserves are enlarged or drained as needed to accommodate the demand for lending at the prevailing interest rates. This theory is based on three main insights: 1. 'Loans create deposits': at the level of the banking system as a whole, the drawing down of a bank loan by a non-bank necessarily creates new deposits. So while the total quantity of bank loans and the quantity of deposits may not equal each other in an economy, a deposit is a logical concomitant of a loan - it should not be seen as something which a bank needs to raise prior to extending a loan.
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