On the Monetary and Financial Stability under A Public Money System - Modeling the American Monetary Act Simplified

机译：论公共资金制度下的货币和金融稳定 - 建模美国货币法案简化

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Our economies are currently facing systemic failures of financial and debt crises. To overcome these, an alternative public money system is proposed by the American Monetary Act. This paper is the third one that examines the feasibility of the public money system. First and second papers have focused on the liquidation of government debt. This paper explores monetary and financial stability under the public money system in comparison with the current debt money system, by constructing a simplified macroeconomic model. It demonstrates through simulation that monetary and financial instability is built into the current debt money system and "booms and depressions" become inescapable. On the other hand, monetary and financial stability is shown to be accomplished under the public money system.

机译：我们的经济目前正在面临财政和债务危机的系统性失败。为了克服这些，美国货币法案提出了另一种公共资金制度。本文是第三个审查公共货币系统可行性的第三个文件。第一卷和第二文件专注于政府债务的清算。本文通过构建简化的宏观经济模型，探讨了公共货币系统下的货币和金融稳定性。它通过模拟展示货币和金融不稳定内置于当前的债务货币系统，“繁荣和萧条”变得不可避免。另一方面，在公共货币系统下显示了货币和金融稳定性。

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《International Conference of the System Dynamics Society》|2012年||共29页
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Kaoru Yamaguchi;
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中图分类 N941.3-53;
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2. Monetary policy implementation and money demand instability during the financial crisis [J] . Kapounek Svatopluk Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis . 2011,第7期

机译：金融危机期间的货币政策实施和货币需求不稳定
3. Heavy and light money in the Netherlands Indies and the Dutch Republic: dilemmas of monetary management with unit of account systems [J] . WILLEM G.WOLTERS Financial history review . 2008,第pa1期

机译：荷兰印度群岛和荷兰共和国的重磅和轻量货币：记帐单位制的货币管理困境
4. On the Monetary and Financial Stability under A Public Money System - Modeling the American Monetary Act Simplified [C] . Kaoru Yamaguchi International Conference of the System Dynamics Society . 2012

机译：论公共资金制度下的货币和金融稳定 - 建模美国货币法案简化
5. FINANCIAL INSTABILITY AND MONETARY INSTITUTIONS: ESSAYS IN MONETARY THEORY (BANK PANICS, SEIGNORAGE, FISCAL CRISES, MONETARIST ARITHMETIC, PUBLIC DEBT). [D] . PARCU, PIER LUIGI. 1985

机译：金融不稳定和金融机构：货币理论（银行恐慌，次贷，金融危机，货币算术，公共债务）中的论点。
6. SHOW ME THE MONEY: PREFERENCES FOR MONETARY SEQUENCES VARY BY AGE AND FINANCIAL LITERACY [O] . J M Wilson, J Strough -1

机译：向我显示金钱：货币序列的偏好随年龄和财务能力而变化
7. Financial Development and the Distributional Effects of Monetary Policy Do the distributional consequences of monetary policy depend on the extent of financial development? Should optimal monetary policy vary across countries? In order to answer these questions, we develop a monetary growth production model with heterogeneous agents. In our economy, optimal policy needs to weigh the effects of policy across two groups — capital owners and individuals who hold liquid assets. While banks help limit the exposure to inflation, there are limits because money alleviates the frictions of private information and limited communication. In this environment, we compare two economies that are identical in every aspect except for their level of financial development. In a country with limited financial development, a stock market is absent. In the other, an equity market is active. In either economy, inflation adversely affects capital formation and output. Individuals who hold liquid assets are always adversely affected by inflation, but the attitude of capital owners depends on the level of financial development. In particular, in the presence of a stock market, the impact of inflation on the welfare of capital owners is non-monotonic. Nevertheless, optimal monetary policy is always more conservative at higher levels of financial development. [O] . TINA M. Edgar A. Ghossoub, TINA M. Robert R. Reedy 100

机译：金融发展和货币政策的分配效应货币政策的分配后果是否取决于金融发展的程度？各国的最优货币政策应该不同吗？为了回答这些问题，我们开发了一个具有异构代理的货币增长生产模型。在我们的经济中，最优政策需要权衡两个群体的政策效应 - 资本所有者和持有流动资产的个人。虽然银行帮助限制通胀风险，但存在限制，因为资金减轻了私人信息的摩擦和有限的沟通。在这种环境下，我们比较两个经济体在各个方面都是相同的，除了它们的金融发展水平。在金融发展有限的国家，缺乏股票市场。另一方面，股票市场活跃。在任一经济体中，通胀都会对资本形成和产出产生不利影响持有流动资产的个人总是受到通货膨胀的不利影响，但资本所有者的态度取决于金融发展的水平。特别是，在股票市场存在的情况下，通货膨胀对资本所有者福利的影响是非单调的。尽管如此，在较高的金融发展水平下，最优货币政策总是更加保守。

On the Monetary and Financial Stability under A Public Money System - Modeling the American Monetary Act Simplified

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