Develops a new monetary model of inside money
Analyses and theoretically models the endogenous money supply as loanable funds and the role of the retail banks in the process of loan creation
Supported by international case studies

Develops a new monetary model of inside money Analyses and theoretically models the endogenous money supply as loanable funds and the role of the retail banks in the process of loan creation Supported by international case studies

Autorentext

D. Gareth Thomas is a Senior Lecturer in Economics at the University of Hertfordshire where he has been since 1990. He received a BA (Hons.) degree in Social Sciences from the Central London Polytechnic (now the University of Westminster), and a MSc degree in Economics from Birkbeck College, University of London, alongside a Postgraduate Certificate in Education from St. Mary's College, Institute of Education, University of London. Finally, he received a PhD in the econometric modelling of real investment from the University of Hertfordshire. Prior to joining the Hertfordshire Business School, he was a schoolteacher and the Head of Economics at Longdean School, Hemel Hempstead. His research interests include econometrics and monetary and health economics. He is the author of a number of research articles and has presented at numerous conferences. In 2010, he was highly commended for teaching excellence as Tutor of the Year by the University of Hertfordshire.

David Bywaters is a retired senior lecturer at the University of Hertfordshire, who earlier worked in the Statistics and Business Research department of the British Post Office, and later British Telecom, with a B.A. in Mathematical Economics from Essex University, and an M.A. in Political Economy from Middlesex University.

Inhalt

An overview, setting the scene for the need for a financial system.- The commercial banks and the money supply process.- The mechanism behind the money multiplier and the market for loanable funds.- The demand for money holdings by firms and households.- Rates of interest and the new monetary theory of loanable funds,- The term structure of interest rates.- An Econometric Investigation of term Structure and the real economy.- The loanable funds cycle and the variability of the deposit base.- Modern portfolio theory applied to the loanable funds market.- Rebuilding the theoretical model on credit with inflation.- Covid-19.- The conclusions.