Economics: en cola

Where's the inflation, Mr Shin?

cosasparapensa — Mon, 11 Jan 2016 20:42:10 +0000

Mr Shin, everybody expected to see inflation this year, but prices are hardly rising. What's happened? Economists are still struggling to figure out the full story on inflation. The simple stories that people tell are no longer adequate. These simple stories are domestic and short-term: If the economy is depressed, you have low inflation. If the economy is overheated, you have high inflation. We are realising that this cannot be the full story. Otherwise we should be seeing higher inflation by now.

etiquetas: bank, for, international, settlements

» noticia original (www.bis.org)

INFOGRAPHIC: Keynesian vs. Austrian Economics

cosasparapensa — Sat, 02 Jan 2016 13:02:10 +0000

There has been a century old debate of whether Keynesian or Austrian economics is best. Here is an infographic highlighting the main points of each

etiquetas: mises

» noticia original (theaustrianinsider.com)

Say's law

cosasparapensa — Sun, 27 Dec 2015 12:56:02 +0000

A product is no sooner created, than it, from that instant, affords a market for other products to the full extent of its own value and As each of us can only purchase the productions of others with his own productions – as the value we can buy is equal to the value we can produce, the more men can produce, the more they will purchase

etiquetas: say

» noticia original (en.wikipedia.org)

The Machinery Of Freedom: Illustrated summary

cosasparapensa — Tue, 22 Dec 2015 21:19:22 +0000

Original presentation: www.youtube.com/watch?v=2YfgKOnYx5A David Friedman website: daviddfriedman.com/ Want to see more of this kind of thing...

etiquetas: david, friedman

» noticia original (www.youtube.com)

The Legal Autonomy of the Dubai International Financial Centre: A Scalable Strategy for Global Free-Market Reforms

cosasparapensa — Sat, 03 Oct 2015 17:40:21 +0000

Islamic culture is founded on a deep and pervasive respect for contract, and for contractual relationships as a means of solving diverse social problems. In add

etiquetas: dubai

» noticia original (papers.ssrn.com)

Concentrated Benefits and Dispersed Costs

cosasparapensa — Thu, 04 Jun 2015 20:48:38 +0000

Coke is made with corn syrup, not real sugar. Why is this? According to Professor Diana Thomas, part of the reason is because government policies artificiall...

etiquetas: lobby, azúcar, corrupción

» noticia original (www.youtube.com)

Can banks individually create money out of nothing? — The theories and the empirical evidence

cosasparapensa — Tue, 21 Apr 2015 14:40:58 +0000

This paper presents the first empirical evidence in the history of banking on the question of whether banks can create money out of nothing. The banking crisis has revived interest in this issue, but it had remained unsettled. Three hypotheses are recognised in the literature. According to the financial intermediation theory of banking, banks are merely intermediaries like other non-bank financial institutions, collecting deposits that are then lent out. According to the fractional reserve theory of banking, individual banks are mere financial intermediaries that cannot create money, but collectively they end up creating money through systemic interaction. A third theory maintains that each individual bank has the power to create money ‘out of nothing’ and does so when it extends credit (the credit creation theory of banking). The question which of the theories is correct has far-reaching implications for research and policy. Surprisingly, despite the longstanding controversy, until now no empirical study has tested the theories. This is the contribution of the present paper. An empirical test is conducted, whereby money is borrowed from a cooperating bank, while its internal records are being monitored, to establish whether in the process of making the loan available to the borrower, the bank transfers these funds from other accounts within or outside the bank, or whether they are newly created. This study establishes for the first time empirically that banks individually create money out of nothing. The money supply is created as ‘fairy dust’ produced by the banks individually, "out of thin air"

etiquetas: bancos

» noticia original (www.sciencedirect.com)

Private Coinage [en]

cosasparapensa — Wed, 25 Feb 2015 17:54:49 +0000

The idea of private coinage seems so strange today that it is worth examining carefully.

etiquetas: dinero

» noticia original (mises.org)