Translation Translation Publishing House is based on the actual operation of monetary economy. This book proposes that the essence of money is a kind of right. that is. holding money mean...
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Paperback or Softback. Condition: New. Treatise on Monetary Foundations (Volume I): Currency and Credit Circuits/?????????$. Book. Seller Inventory # BBS-9787500167532
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Taschenbuch. Condition: Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - 'Diagnostic Framework of Financial Intermediaries as Pivotal Nodes in Credit Circuits真真真真真真真真�Based on the operation of monetary economy in reality, this book proposes that the essence of currency is a right, that is, holding currency means obtaining the ''right to claim future utility''; Currency trading is a ''pure'' currency transaction in which the public and central banks act as the money supply side, and financial intermediaries act as the money demand side. Based on the redefinition of currency and currency transactions, this book constructs a micro foundation for the theory of currency demand in banks (financial intermediaries) and analyzes the superposition of currency neutrality and non neutrality; Two theorems on excess money demand have been derived, proving that the independence of bank credit and the formation of collateral financing mechanisms will drive banks' excess money demand for the household sector, resulting in cyclical economic financial phenomena of overinvestment and credit contraction; Later, the paper makes a deep analysis of the two currency cycles in the real monetary economy - ''output currency cycle'' and ''asset currency cycle'', and demonstrates how the mortgage financing mechanism drives asset foam and asset price inflation, as well as the role of loose monetary policy in this process.真真真真真真真真真真真真真真真真真真真'真真真�'真真真真真真真真真真真真真真真真真�'真'� 真真真真真真真真真真真真真真真真真真真真真真真真真真真真真真 真真真真真真真真真真真真真真真真真真真真真真真真真真真真真真 真真真真真真真-真真真真真真真真真真真�--'真-真真'�'真-真真'- -真真真真真真真真真真真真真真真真真真真真真真真真真真真�. Seller Inventory # 9787500167532
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Hardcover. Condition: New. HardCover.Pub Date:2021-10-01 Pages:338 Language:Chinese Publisher:Chinese Translation Publishing House is based on the actual operation of monetary economy. This book proposes that the essence of money is a kind of right. that is. holding money means obtaining the future Utility claim; currency transactions are pure currency transactions in which the public and the central bank act as money suppliers and financial intermediaries act as money demanders. Based on the redefinition of currency a. Seller Inventory # NX014613
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