Schmidt, Sandra
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Abstract
At present, the world-economy is exceedingly fragile. Debt levels of nations peak. Monetary assets increase, too, and concentrate in the hands of few. In this paper, I show that a mechanism at the root of today’s monetary system entails an inherently fragile economy. I simulate the consequences of this mechanism within a macroeconomic model. I motivate a new monetary system that gives money the role it should have: to facilitate complex interactions in a stable environment.
| Document type: | Working paper |
|---|---|
| Series Name: | Discussion Paper Series, University of Heidelberg, Department of Economics |
| Volume: | 0580 |
| Place of Publication: | Heidelberg |
| Date Deposited: | 28 Jan 2015 15:10 |
| Date: | January 2015 |
| Number of Pages: | 32 |
| Faculties / Institutes: | The Faculty of Economics and Social Studies > Alfred-Weber-Institut for Economics |
| DDC-classification: | 330 Economics |
| Uncontrolled Keywords: | Money, debt, banks and inequality. Reform of the monetary system, equity-based money. |
| Series: | Discussion Paper Series / University of Heidelberg, Department of Economics |
