Resources · Financial Theory & Economics · Financial Macroeconomics
La monnaie et sa création
Comprendre comment l'argent est créé et pourquoi la quantité de monnaie compte pour les prix et les marchés.
Module 3 of the “Financial Macroeconomics” course. See the full course →
Module articles
- 21. What Is Money? Origins and FunctionsIts three functions, its plural origins, the two-tier system: what money really is — and how to judge crypto, stablecoins and CBDCs.
- 22. The Role of Commercial Banks in Credit CreationHow a bank creates a deposit by making a loan, why repayment destroys it, and the four brakes that bound money creation.
- 23. Money Creation: How Money Appears in the EconomyBank credit, QE, deficits, foreign currency: the doors through which money appears in the economy — and those through which it disappears.
- 24. Money Multiplier or Endogenous Creation: Do Banks Lend Out Deposits, or Create Money by Lending?Do banks lend out deposits, or create money by lending? The money multiplier on trial, and what is left of it after 2008.
- 25. Money Supply M1, M2: What These Aggregates Really MeasureM1, M2, M3: what each aggregate contains, why a savings account is money and a share is not, and why those borders move with the rules.
- 26. The Quantity Theory of Money (MV = PQ): Linking Money, Prices and ActivityMV = PQ: an identity always true that predicts nothing on its own. When money governs prices, when it stays silent — and velocity's decisive role.