Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/127398
Authors: 
Schmidt, Sandra
Year of Publication: 
2015
Series/Report no.: 
Discussion Paper Series, University of Heidelberg, Department of Economics 580
Abstract: 
At present, the world-economy is exceedingly fragile. Debt levels of nations peak. Monetary assets increase, too, and concentrate in the hands of few. In this paper, I show that a mechanism at the root of today’s monetary system entails an inherently fragile economy. I simulate the consequences of this mechanism within a macroeconomic model. I motivate a new monetary system that gives money the role it should have: to facilitate complex interactions in a stable environment.
Subjects: 
Money
debt
banks and inequality Reform of the monetary system
equity-based money
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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