2017 Fiscal Year Final Research Report
The Bank of England's earliest banknotes suggest that the theory of an exogenous money supply is untenable
Project/Area Number |
15K03574
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Research Category |
Grant-in-Aid for Scientific Research (C)
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Allocation Type | Multi-year Fund |
Section | 一般 |
Research Field |
Economic history
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Research Institution | Nagoya Women's University |
Principal Investigator |
Kanai Yuichi 名古屋女子大学, 家政学部, 教授 (30144108)
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Project Period (FY) |
2015-04-01 – 2018-03-31
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Keywords | 内省的貨幣供給論 / 外生的貨幣供給論 / イングランド銀行券 / ポンド / 預金振替決済 / 信用先行 |
Outline of Final Research Achievements |
Expansionary monetary policies(policies for increasing the money supply)are often adopted when the economy is in a slump. Howeber, a fundamental issue in monetary policy is whether a central bank can control the money supply by manipulating the monetary base. As is well known, this question has effectively devided the field of economics into two schools. The exogenous and endogenous money thories have offered conflicting views on money supply since mid-18th century, and even today's application of econometric methods to the question has ended in fruitless debate. This perhaps means that we should look beyond economertic approaches to settle the dispute. This study tried that an examination of banknotes from a historical perspecive might bring about the resolution of the longstanding debate.
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Free Research Field |
イギリス金融史
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