The German Bundesbank has recently released an interesting report on the role of banks, non-banks, and the central bank in the money creation process. We have a few issues with the Bundesbank article; however, the majority of the analysis is good. More importantly, the conclusions drawn from the report by news outlets and the blogosphere are misleading.
Archive for April 27, 2017
Positive Money’s submission to the Treasury Select Committee on the effectiveness and impact of post-2008 UK monetary policy
The House of Commons Treasury Select Committee is undertaking a landmark inquiry into monetary policy. Our aim is to persuade the committee to acknowledge monetary policy’s bad side-effects and to consider the benefits of fairer and more sustainable monetary policy tools. With this in mind, we coordinated a joint letter from over 40 leading economists, as well as a statement from nearly 10,000 people.