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Czasopismo
2010 | nr 3 | 35--81
Tytuł artykułu

Show Me the Money - or How the Institutional Aspects of Monetary Policy Implementation render money supply endogenous

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The paper presents a historical account of the evolution of modern financial systems. It is argued that money supply had been exogenous for the most part of history, but the demise of gold standard and the development of central banking have rendered it endogenous. The analysis is supported by a review of the monetary policy implementation framework of the National Bank of Poland. Causality test results show that the degree of the banking system's liquidity did not Granger-cause credit expansion in the decade 1998-2008. (original abstract)
Czasopismo
Rocznik
Numer
Strony
35--81
Opis fizyczny
Twórcy
  • National Bank of Poland
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Typ dokumentu
Bibliografia
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Identyfikator YADDA
bwmeta1.element.ekon-element-000165163482

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