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Creator: Lagos, Ricardo Series: Staff report (Federal Reserve Bank of Minneapolis. Research Department) Number: 374 Abstract:
A distinction is drawn between outside money—money that is either of a fiat nature or backed by some asset that is not in zero net supply within the private sector—and inside money, which is an asset backed by any form of private credit that circulates as a medium of exchange.
Palavra-chave: Private credit, Inside and outside money, Open market operations, Finance theory, Fiat money, Commitment, Banking theory, and Bonds Sujeito: D40 - Market Structure, Pricing, and Design: General and D10 - Household Behavior: General