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Simons versus Fisher : can money be made exogenous?
[Simons contre Fisher : la monnaie peut-elle être rendue exogène ?]

Author

Listed:
  • Jonas Grangeray

    (CEPN - Centre d'Economie de l'Université Paris Nord - LABEX ICCA - UP13 - Université Paris 13 - Université Sorbonne Nouvelle - Paris 3 - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité - Université Sorbonne Paris Nord - CNRS - Centre National de la Recherche Scientifique - Université Sorbonne Paris Nord)

Abstract

During the Great Depression, the 100% reserve banking proposal was put forward by several leading economists, including Henry Simons and Irving Fisher. The central idea of 100% reserve is to make money exogenous, under the control of the State. This article demonstrate, by comparing his writings with those of Fisher, that Simons understood the fundamental limit to 100% reserves : money is and will remain endogenous even after the reform.

Suggested Citation

  • Jonas Grangeray, 2024. "Simons versus Fisher : can money be made exogenous? [Simons contre Fisher : la monnaie peut-elle être rendue exogène ?]," Post-Print hal-04611718, HAL.
    • Handle: RePEc:hal:journl:hal-04611718
    Note: View the original document on HAL open archive server: https://hal.science/hal-04611718
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