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What is money in a critical macro-finance framework?

Murau, S. ORCID: 0000-0002-3460-0026 and Pforr, T. (2020). What is money in a critical macro-finance framework?. Finance and Society, 6(1), pp. 56-66. doi: 10.2218/finsoc.v6i1.4409

Abstract

This forum contribution explains how analyzing the creation, distribution, and destruction of contemporary credit money is placed centre stage in the emerging field of critical macro-finance. This approach not only involves traditional forms of money but also ‘shadow money’: private credit instruments which are not regulated as money from a legal standpoint, but in many respects are functionally equivalent to ‘established’ forms of money. To connect different positions in this discourse, we propose three core criteria for defining shadow money as a baseline position for future critical macro-financial research.

Publication Type: Article
Subjects: H Social Sciences > HG Finance
J Political Science > JZ International relations
Departments: School of Arts & Social Sciences > International Politics
Date Deposited: 15 Oct 2020 10:40
URI: https://openaccess.city.ac.uk/id/eprint/25098
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