Author Description

Departing From Conventionally Held Beliefs, Sergio Rossi Argues In Money And Payments In Theory And Practice That Money Is Not A Financial Asset And Banks Cannot Create Purchasing Power On Their Own. The Author Asserts That The Nature And Workings Of Money And Payments Have Not Been Thoroughly Understood In Both Theory And Practice. Money And Payments In Theory And Practice Points Out That The Origin Of Inflation May Lie In A Structural Discrepancy Between The Architecture Of Our Domestic Payment Systems And The Banking Nature Of Money. Sergio Rossi Puts Forward A Positive As Well As A Normative Approach To Dispose Of Inflation Through A Structural Change At The Payment Systems Level. This Work Will Be Essential Reading Not Only For Scholars In Monetary Economics, But Also For Professionals Concerned With Monetary Policy And Payments System Issues.--book Jacket. Introduction -- Money And Credit -- The Essence Of Money -- The Mechanisms Of Credit -- Banks And Payments -- The Monetary Macroeconomics Of Banking -- The Monetary Macroeconomics Of Payments -- The Central Bank And The State -- The Monetary Macroeconomics Of Interbank Payments -- The Monetary Macroeconomics Of State Payments -- International Settlement Systems -- The Current Architecture For International Payments -- Reforming The International Monetary Architecture -- Monetary Policy Strategies -- Inflation Theory And Inflation Targeting: A Critical Appraisal -- A Structural Target For Monetary Policy: Payment Systems' Reform. Sergio Rossi. Includes Bibliographical References (p. [133]-142) And Indexes.