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The role of banks in money creation

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  • Nicholas Spearman

Abstract

The phrase “banks create money†forms part of popular discourse, but it conveys an erroneous message of the banks’ role in the money creation process. The topic is particularly relevant today because the notion that banks can create money out of nothing has generated public anger and recent publications by the BoE fuel the misunderstanding. […]

Suggested Citation

  • Nicholas Spearman, 2015. "The role of banks in money creation," Working Papers 32, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:32
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    More about this item

    Keywords

    Banking Regulation; central bank; Monetary Policy;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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