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General Theory of Money: A New Approach

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  • Rezaie, Mohsen

Abstract

Money, credit and monetary markets are interlinked with each other and linked to real sector of the economy. There is clearly no single market called money market, but there are two money markets, asset-money and credit-money markets, that money is created by the interactions between them. This created money would, then, enter into economic activities and to facilitate producing and transacting in the real sector. In other words, money is a heavenly creature that is created through interactions between money markets in the sky of monetary markets that returns to the land of real markets. In other words, monetary intermediaries, like firms, produce money within credit and savings process. In addition, monetary integration takes place by interaction of money markets.

Suggested Citation

  • Rezaie, Mohsen, 2014. "General Theory of Money: A New Approach," MPRA Paper 60073, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:60073
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    References listed on IDEAS

    as
    1. Tobin, James, 1982. "Money and Finance in the Macroeconomic Process," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(2), pages 171-204, May.
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    4. Daniel L. Thornton, 2000. "Money in a theory of exchange," Review, Federal Reserve Bank of St. Louis, vol. 82(Jan), pages 35-60.
    5. Nicholas Kaldor, 1975. "What is Wrong with Economic Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 89(3), pages 347-357.
    6. Philip Arestis, 1992. "The Post-Keynesian Approach to Economics," Books, Edward Elgar Publishing, number 16.
    7. Benjamin M. Friedman, 1981. "The Relative Stability of Money and Credit "Velocities" in the United States: Evidence and Some Speculations," NBER Working Papers 0645, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Asset-money; Credit-money; Saving; Monetary Theory; Monetary Variables; Monetary Integration;
    All these keywords.

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General

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    This paper has been announced in the following NEP Reports:

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