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- W2053161488 abstract "This comment challenges Niehans' contention that in a world of zero asset conversion costs the monetary base would disappear. It argues that a demand for standby liquidity is critical to a private financial system that is exposed to periodic stresses. The comment also takes issue with Niehans' argument that money is non-neutral by asserting the Ricardian view that government bonds are not wealth." @default.
- W2053161488 created "2016-06-24" @default.
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- W2053161488 date "1986-12-01" @default.
- W2053161488 modified "2023-09-27" @default.
- W2053161488 title "A comment on Niehans' ‘Innovation in monetary policy’" @default.
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- W2053161488 doi "https://doi.org/10.1016/s0378-4266(86)80009-7" @default.
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