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Money in Finance

Authors: L. Randall Wray;
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.

Keywords

shadow bank, Hyman Minsky, E50, E12, E51, state money, E52, chartalism, ddc:330, G14, financial instruments, Money; Money of Account; Finance; Financial Instruments; Financial Institutions; Financial Innovation; Financialization; Liquidity; Saving; State Money; Chartalism; Shadow Bank; Hyman Minsky; Securitization; Robert Clower, financial institutions, Robert Clower, money of account, G21, Economics and Finance,, finance, B52, financial innovation, B14, B15, saving, liquidity, securitization, financialization, money, E40, B22, E42, jel: jel:G21, jel: jel:E50, jel: jel:E51, jel: jel:E52, jel: jel:E12, jel: jel:G14, jel: jel:E40, jel: jel:B22, jel: jel:E42, jel: jel:B52, jel: jel:B14, jel: jel:B15

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
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