The Potential Money Character of Assets
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The Potential Money Character of Assets
Credit and Capital Markets – Kredit und Kapital, Vol. 23 (1990), Iss. 2 : pp. 204–214
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Han van der Knoop, Den Haag
References
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Barnett, W. A. (1980): Economic Monetary Aggregates, An Application of Index Number and Aggregation Theory, Journal of Econometrics 14, pp. 11 – 48.
Google Scholar -
Barnett, W. A., M. J. Hinich and W. E. Weber (1986): The Regulatory Wedge between the Demand-Side and Supply-Side Aggregation-Theoretic Monetary Aggregates, Journal of Econometrics 33, pp. 165 – 85.
Google Scholar -
Brunner, K. and A. H. Meitzer (1971): The Uses of Money: Money in the Theory of an Exchange Economy, American Economic Review, vol. LXI, dec., pp. 784 – 805.
Google Scholar -
Chetty, V. K. (1969): On Measuring the Nearness of Near-Moneys, American Economic Review 59, no 3, pp. 270 – 81.
Google Scholar -
Chick, V. (1978): Unresolved Questions in Monetary Theory: A Critical Review, De Economist, 126, no. 1 pp. 37 – 60.
Google Scholar
Abstract
The Potential Money Character of Assets
Money is still a concept which is not unequivocally defined. Broad definitions are based upon the liquidity properties of the underlying assets. However, these definitions do not make a distinction between micro- and macro-liquidity. An asset displaying macro-liquidity forms potential money. This note investigates the conditions for the existence of potential money and offers two explanations for its occurrence.