tag:blogger.com,1999:blog-5908830827135060852.post7067115965473587673..comments2024-03-01T02:40:14.946-05:00Comments on Bond Economics: Primer: Endogenous Versus Exogenous MoneyBrian Romanchukhttp://www.blogger.com/profile/02699198289421951151noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-5908830827135060852.post-20163637114915233682022-05-27T03:09:00.020-04:002022-05-27T03:09:00.020-04:00This comment has been removed by a blog administrator.amnahttps://www.blogger.com/profile/10499358506791086112noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-23023141592391553942022-05-27T03:08:18.695-04:002022-05-27T03:08:18.695-04:00This comment has been removed by a blog administrator.amnahttps://www.blogger.com/profile/10499358506791086112noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-54487550788569670142022-05-27T03:05:40.016-04:002022-05-27T03:05:40.016-04:00This comment has been removed by a blog administrator.amnahttps://www.blogger.com/profile/10499358506791086112noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-171526439642892422021-02-09T05:12:40.070-05:002021-02-09T05:12:40.070-05:00This comment has been removed by a blog administrator.seohttps://www.blogger.com/profile/16260462258003393730noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-51165448946346357622020-05-06T16:48:46.003-04:002020-05-06T16:48:46.003-04:00This comment has been removed by a blog administrator.Hazel Jackhttps://www.blogger.com/profile/04012629892790292754noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-60376598130939886682018-09-06T17:46:34.807-04:002018-09-06T17:46:34.807-04:00This comment has been removed by a blog administrator.Eva Jessicahttps://www.blogger.com/profile/01618868774767567687noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-78517251126907003112018-09-03T17:05:28.279-04:002018-09-03T17:05:28.279-04:00This comment has been removed by a blog administrator.Eva Jessicahttps://www.blogger.com/profile/01618868774767567687noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-88406054433453067662017-04-19T03:29:44.802-04:002017-04-19T03:29:44.802-04:00This comment has been removed by a blog administrator.Anonymoushttps://www.blogger.com/profile/02036141162168507103noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-55397067095337997702016-09-26T16:27:35.631-04:002016-09-26T16:27:35.631-04:00The inside/outside money distinction is a separate...The inside/outside money distinction is a separate issue. The original debate regarding Monetarism was whether the central bank could set the level of "the" "money supply." (It was unclear what real world monetary aggregate was viewed as the money supply.) The belief was that the reserves multiplier would handle bank money as well; the realisation that financial innovation would wreck that possibility was only clear in retrospect.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-77562349830910542952016-09-26T15:31:55.665-04:002016-09-26T15:31:55.665-04:00This 2 minute video appears to apply the conventio...This 2 minute video appears to apply the conventional definition of exogenous versus exogenous money:<br /><br />https://www.youtube.com/watch?v=anZ58gZcxqk<br /><br />Financial instruments that appear in the real world can be characterized as inside money and outside money as in this 8 page paper:<br /><br />https://www.minneapolisfed.org/research/sr/sr374.pdf<br /><br />where one should note that Treasury securities and liabilities of the central bank both serve as outside "money" under the provided definition. Sometimes the advocates of Modern Monetary Theory refer to the supply of both vertical (outside) and horizontal (inside) financial instruments.<br /><br />The government ability to curb inflation or deflation under some conditions lends to the argument in favor of exogenous "money" while government support for market credit formation under all other conditions lends to the argument for endogenous "money." Joe Leotehttps://www.blogger.com/profile/01292763300917387201noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-13338425423594948912016-09-25T21:52:07.381-04:002016-09-25T21:52:07.381-04:00Brian, I found this Reserve Maintenance Manual t...Brian, I found this <a href="http://www.federalreserve.gov/monetarypolicy/2015-reserve-maintenance-manual-about-this-manual.htm" rel="nofollow"> Reserve Maintenance Manual </a> to be very helpful. It explains how the Federal Reserve determines reserve requirements. The mechanics of reserves makes me think that our banking system of private banks is more illusion than independent reality.<br /><br />After reading the manual, it seems to me that "money supply" is controlled by <b> both </b> exogenous and endogenous methods. The fact that "control" is exercised inspires my "illusion" comment.<br /><br />I plan to read your post a third time and probably more. My goal will be to see how your framework fits into the mechanics as described by the manual.Roger Sparkshttps://www.blogger.com/profile/01734503500078064208noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-18742204512410435922016-09-25T13:37:18.527-04:002016-09-25T13:37:18.527-04:00Thanks; I tweeted the link earlier, and left a com...Thanks; I tweeted the link earlier, and left a comment there.<br /><br />I do not think the New Keynesian models make sense, but I am not too unhappy with how they deal with money. So I do not know what to think about Nick Rowe's points.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-15791943717330841402016-09-25T12:33:17.711-04:002016-09-25T12:33:17.711-04:00Brian, if you haven't seen this yet.
http://w...Brian, if you haven't seen this yet.<br /><br />http://www.bradford-delong.com/2016/09/must-read-nick-rowe-continues-his-long-twilight-struggle-to-try-to-explain-what-is-really-going-on-in-the-new-keynesian.htmlTom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.com