000			01642cam a22002411 4500
008			790814t1960 dcua erb 001 0 eng
040			_aDLC _cOrSaW
050	0	0	_aHG173 _b.G8
082			_a332 _bGUR
100	1		_aGurley, John G.
245	1	0	_aMoney in a theory of finance /
260			_aWashington,D.C. : _bBrookings Institution, _cc1960.
300			_axiv, 371 p. :ill,
504			_aIncludes bibliographical footnotes and index.
520			_aTHE recent volume by Gurley and Shaw presents a theory of the role of financial institutions in a growing economy. A neoclassical world is assumed in which prices are flexible, employment is full, and money illusion is absent. The authors' procedure is to begin with a rudimentary economy which contains only one financial market, that for money, and one financial institution, the government monetary system. Their second model adds a financial market for homogeneous business bonds, issued by private firms, which are purchased by both the government banking system and the public. The third model introduces a third financial market: that for non-monetary indirect assets which are issued by a group of nonmonetary financial intermediaries that purchase business bonds. In a final chapter the governmental monetary system is replaced by a private banking system, and the quantity of money outstanding reflects profit considerations of the private banking system, which is subject to control by a central bank.
590			_arpm 25/04/2018
591			_aLoans
650		0	_aFinance.
650		0	_aMoney.
700	1		_aShaw, Edward S.
942			_2ddc _cBOOK
949			_a332 GUR
999			_c8078 _d8078