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http://hdl.handle.net/10419/56995
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| Title: | | Money in finance  |
| Authors: | | Wray, L. Randall |
| Issue Date: | | 2011 |
| Series/Report no.: | | Working paper, Levy Economics Institute 656 |
| Abstract: | | This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial crisis, which could be blamed on excessive financialization of the economy. |
| Subjects: | | money money of account finance financial instruments financial institutions financial innovation financialization liquidity saving state money chartalism shadow bank Hyman Minsky securitization Robert Clower |
| JEL: | | B14 B15 B22 B52 E12 E40 E42 E50 E51 E52 G14 G21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Levy Economics Institute of Bard College
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