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  1. On the Bottom-up Foundations of the Banking-Macro Nexus

    Wäckerle, Manuel
    The complexity of credit-money is conceived as the central issue in the banking-macro nexus, which the author considers as a structural as well as process component of the evolving economy. This nexus is significant for the stability as well as the fragility of the economic system, because it connects the monetary with the real domain of economic production and consumption. The evolution of credit rules shapes economic networks between households, firms, banks, governments and central banks in space and time. The properties and characteristics of this evolutionary process are discussed in three sections. First, the author looks into the origins...
    (application/pdf) - 18-oct-2016

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