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Real bills doctrine

Index Real bills doctrine

The real bills doctrine asserts that money should be issued in exchange for short-term real bills of adequate value. [1]

32 relations: Adam Smith, Augustus M. Kelley, Bailout, Bank run, Bankers' acceptance, Benjamin Strong Jr., British Banking School, British Currency School, Charles Bosanquet, Debits and credits, Discount window, Endogenous money, Federal Reserve Act, Federal Reserve Bank of New York, Federal Reserve System, Fiat money, Fiscal theory of the price level, Fractional-reserve banking, HarperCollins, Heterodox economics, IOU, John Law (economist), Mainstream economics, Money supply, New York City, Open market operation, Quantity theory of money, Silver, Simon Clement, The New Palgrave Dictionary of Economics, Thomas Tooke, 1997 Asian financial crisis.

Adam Smith

Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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Augustus M. Kelley

Augustus M. Kelley, Publishing was a New York–based publishing house named after its founder, Augustus M. Kelley (1913-1999).

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Bailout

A bailout is a colloquial term for the provision of financial help to a corporation or country which otherwise would be on the brink of failure or bankruptcy.

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Bank run

A bank run (also known as a run on the bank) occurs when a large number of people withdraw their money from a bank, because they believe the bank may cease to function in the near future.

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Bankers' acceptance

A banker's acceptance, is a promised future payment, or time draft, which is accepted and guaranteed by a bank and drawn on a deposit at the bank.

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Benjamin Strong Jr.

Benjamin Strong Jr. (December 22, 1872 – October 16, 1928) was an American banker.

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British Banking School

The British Banking School was a group of 19th century economists from the United Kingdom who wrote on monetary and banking issues.

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British Currency School

The British Currency School was a group of British economists, active in the 1840s and 1850s, who argued that the excessive issuing of banknotes was a major cause of price inflation.

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Charles Bosanquet

Charles Bosanquet (23 July 1769 – 20 June 1850) was an English official and writer.

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Debits and credits

In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in account ledgers to record changes in value resulting from business transactions.

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Discount window

The discount window is an instrument of monetary policy (usually controlled by central banks) that allows eligible institutions to borrow money from the central bank, usually on a short-term basis, to meet temporary shortages of liquidity caused by internal or external disruptions.

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Endogenous money

Endogenous money is an economy’s supply of money that is determined endogenously—that is, as a result of the interactions of other economic variables, rather than exogenously (autonomously) by an external authority such as a central bank.

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Federal Reserve Act

The Federal Reserve Act (ch. 6,, enacted December 23, 1913) is an Act of Congress that created and established the Federal Reserve System (the central banking system of the United States), and which created the authority to issue Federal Reserve Notes (commonly known as the US Dollar) as legal tender.

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Federal Reserve Bank of New York

The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Fiat money

Fiat money is a currency without intrinsic value that has been established as money, often by government regulation.

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Fiscal theory of the price level

The fiscal theory of the price level is the idea that government fiscal policy affects the price level: for the price level to be stable (to control inflation), government finances must be sustainable: they must run a balanced budget over the course of the business cycle, meaning they must not run a structural deficit.

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Fractional-reserve banking

Fractional-reserve banking is the practice whereby a bank accepts deposits, makes loans or investments, but is required to hold reserves equal to only a fraction of its deposit liabilities.

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HarperCollins

HarperCollins Publishers L.L.C. is one of the world's largest publishing companies and is one of the Big Five English-language publishing companies, alongside Hachette, Macmillan, Penguin Random House, and Simon & Schuster.

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Heterodox economics

Heterodoxy is a term that may be used in contrast with orthodoxy in schools of economic thought or methodologies, that may be beyond neoclassical economics.

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IOU

An IOU (abbreviated from the phrase "I owe you") is usually an informal document acknowledging debt.

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John Law (economist)

John Law (baptised 21 April 1671 – 21 March 1729) was a Scottish economist who believed that money was only a means of exchange that did not constitute wealth in itself and that national wealth depended on trade.

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Mainstream economics

Mainstream economics may be used to describe the body of knowledge, theories, and models of economics, as taught across universities, that are generally accepted by economists as a basis for discussion.

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Money supply

In economics, the money supply (or money stock) is the total value of monetary assets available in an economy at a specific time.

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New York City

The City of New York, often called New York City (NYC) or simply New York, is the most populous city in the United States.

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Open market operation

An open market operation (OMO) is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks.

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Quantity theory of money

In monetary economics, the quantity theory of money (QTM) states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply.

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Silver

Silver is a chemical element with symbol Ag (from the Latin argentum, derived from the Proto-Indo-European ''h₂erǵ'': "shiny" or "white") and atomic number 47.

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Simon Clement

Simon Clement (1654?-1730?) was an English diplomat and writer on economics.

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The New Palgrave Dictionary of Economics

The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.

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Thomas Tooke

Thomas Tooke (28 February 1774 – 26 February 1858) was an English economist known for writing on money and economic statistics.

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1997 Asian financial crisis

The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.

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Convertibility on demand, Real bills.

References

[1] https://en.wikipedia.org/wiki/Real_bills_doctrine

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