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Tag Archives: money multiplier
What economists need to know about the modern money creation process
by Manmohan Singh and Peter Stella, Voxeu The world of credit creation has shifted over recent years. This column argues this shift is more profound than is commonly understood. It describes the private credit creation process, explains how the ‘money … Continue reading
Does the Money Multiplier Exist?
The vaunted concept of the money multiplier is merely an ex post accounting factor. The logic of why it is not an ex ante factor is amazingly simple. Continue reading
Posted in Banking News, Federal Reserve
Tagged Edward Harrison, Harrison, money multiplier
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