Construct · 1 fields · 1 citations

real bills doctrine: a standalone construct

One name. One construct. A landmark on the map.

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real billsdoctrine1 CONSTRUCTReal bills doctrineSARGENT · FINANCIAL AND

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Financial and monetary economics

the doctrine that a banking system issuing money only against short-term loans financing real goods cannot cause inflation, contrasted with the quantity theory.

In financial and monetary economics, real bills doctrine refers to the doctrine that a banking system issuing money only against short-term loans financing real goods cannot cause inflation, contrasted with the quantity theory. This meaning comes from Sargent (1982) in Journal of Political Economy.[1]

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Nearby constructs

cause3 fields · 7 citationsjingle · one word, three constructsdoctrine1 fields · 2 citationsanchor · a standalone constructinflation3 fields · 4 citationsjingle · one word, three constructs

References

  1. Sargent, T. J., & Wallace, N. (1982). The Real-Bills Doctrine versus the Quantity Theory: A Reconsideration. Journal of Political Economy, 90(6), 1212-1236. https://doi.org/10.1086/261118

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