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The fourfold relation between the essence of money, inflation, bubbles and debt—A theoretical macrofounded analysis

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  • Edoardo Beretta

Abstract

The paper makes an unprecedented claim by identifying a significant relationship between money's (immaterial and intrinsic‐worth‐detached) essence and the measurement of inflation rates, on the one hand, and bubbles and private/public indebtedness, on the other hand. The inflationary potential of cryptocurrencies—among others: xenocurrencies and special drawing rights—is also analysed. Another added value is the consistently macroeconomic approach, which starts from the structural and interconnected mechanisms and then explains economic‐financial crises and their increasingly common features.

Suggested Citation

  • Edoardo Beretta, 2020. "The fourfold relation between the essence of money, inflation, bubbles and debt—A theoretical macrofounded analysis," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 49(3), September.
    • Handle: RePEc:bla:ecnote:v:49:y:2020:i:3:n:e12166
    DOI: 10.1111/ecno.12166
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    References listed on IDEAS

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    1. Michael F. Bryan, 1997. "On the origin and evolution of the word inflation," Economic Commentary, Federal Reserve Bank of Cleveland, issue Oct.
    2. Peter Bernholz, 2003. "Monetary Regimes and Inflation," Books, Edward Elgar Publishing, number 2873.
    3. Friedrich Heinemann, 2001. "After the death of inflation: will fiscal drag survive?," Fiscal Studies, Institute for Fiscal Studies, vol. 22(4), pages 527-546., December.
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    Cited by:

    1. Indra Abeysekera, 2024. "The Influence of Fiscal, Monetary, and Public Policies on Sustainable Development in Sri Lanka," Sustainability, MDPI, vol. 16(2), pages 1-28, January.
    2. Belke, Ansgar & Beretta, Edoardo, 2020. "Nicht die Zeit für digitales Notenbankgeld. Warum Cash weiterhin unersetzbar ist [Not the time for central bank digital currency. Why cash is still irreplaceable]," MPRA Paper 100932, University Library of Munich, Germany, revised Jun 2020.

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