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Du côté de l'offre de monnaie

Abstract : This article analyses the treatment of the supply of money in the French models. It presents the ? credit availability thesis ? which places emphasis on credit rationing and its impact on investment. It discusses the theories of Brunner and Meltzer and their applications to France (adjusted monetary base, money definition, money and credit multipliers and the interaction between the various asset counterparts of money and the base). It presents the various models, based on Brunner and Meltzer, which separately analyse the credit and the money markets in France. It discusses the links between these two markets, and the specific role of money among financial assets.
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Submitted on : Sunday, October 24, 2021 - 2:26:20 AM
Last modification on : Friday, August 5, 2022 - 11:21:16 AM

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  • HAL Id : hal-03399444, version 1
  • SCIENCESPO : 2441/5369

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Pierre Villa, Henri Sterdyniak. Du côté de l'offre de monnaie. Annales de l'INSEE, 1977, 25, pp.3 - 62. ⟨hal-03399444⟩

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