Nominality of Money: Theory of Credit Money and Chartalism

DOI Open Access

Description

<p>This paper focuses on the unit of account function of money that is emphasized by Keynes in his book A Treatise on Money (1930) and recently in post-Keynesian endogenous money theory and modern Chartalism, or in other words Modern Monetary Theory. These theories consider the nominality of money as an important characteristic because the unit of account and the corresponding money as a substance could be anything, and this aspect highlights the nominal nature of money; however, although these theories are closely associated, they are different. The three objectives of this paper are to investigate the nominality of money common to both the theories, examine the relationship and differences between the two theories with a focus on Chartalism, and elucidate the significance and policy implications of Chartalism.</p>

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Details 詳細情報について

  • CRID
    1390287827491704320
  • NII Article ID
    130008029593
  • DOI
    10.34490/revkeystud.2.0_122
  • ISSN
    24356581
  • Text Lang
    en
  • Article Type
    journal article
  • Data Source
    • JaLC
    • CiNii Articles
    • KAKEN
  • Abstract License Flag
    Disallowed

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