Money, income, and capitala reform of the system of national payments

  1. Andrea Carrera 1
  1. 1 Universita della Svizzera italiana
    info

    Universita della Svizzera italiana

    Lugano, Suiza

    ROR https://ror.org/03c4atk17

Journal:
Cuadernos de economía: Spanish Journal of Economics and Finance

ISSN: 2340-6704,  0210-0266

Year of publication: 2016

Volume: 39

Issue: 111

Pages: 189-202

Type: Article

DOI: 10.1016/J.CESJEF.2016.09.004 DIALNET GOOGLE SCHOLAR lock_openBiblos-e Archivo editor

More publications in: Cuadernos de economía: Spanish Journal of Economics and Finance

Abstract

Despite business investment prompts economic growth, it is necessary to ask what financial problems eventually arise at the national level when investment is carried out, and what banking policies may be enacted to avert them. One of the main arguments of this work consists in the role potentially played by commercial banks whenever these policies are conducted. Monetary institutions should recognize a fundamental difference between distributive payments and those transactions that are at the origin of new income. We argue that a reform of the system of national payments would prevent monetary disorders from triggering any divergence between global demand (households’ purchasing power) and global supply (output).

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