Money circulation and debt circulation: A restatement of quantity theory of money

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Xing, Xiaoyun; Xiong, Wanting; Chen, Liujun; Chen, Jiawei; Wang, Yougui; Stanley, H. Eugene; (2018)
  • Publisher: Kiel: Kiel Institute for the World Economy (IfW)
  • Subject: E51 | E27 | G21 | money circulation | debt circulation | holding time distribution | quantity theory of money
    • ddc: ddc:330

Both money and debt are products of credit creation of banks. Money is always circulating among traders by facilitating commodity transactions. In contrast, debt is created by borrowing and annihilated by repayment as it is matured. However, when this creation- annihila... View more
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