The real-bills doctrine in the light of the law of reflux

This chapter considers the law of reflux and its alternative interpretations: (1) as a monetary policy rule for stabilizing the price level and (2) as rule for individual banks to follow to remain liquid. The chapter argues that Adam Smith endorsed only the second interpretation, and that the motiva...

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Bibliographische Detailangaben

Veröffentlicht in:	Glasner, David Studies in the history of monetary theory
1. Verfasser:	Glasner, David (VerfasserIn)
Format:	UnknownFormat
Sprache:	eng
Veröffentlicht:	2021
Schlagworte:	Overissue > Real-bills doctrine > Convertibility > Banking School > Currency School > Law of reflux > Aufsatz im Buch
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