Jump to ContentJump to Main Navigation
Barley, Gold, or FiatToward a Pure Theory of Money$
Users without a subscription are not able to see the full content.

Thomas Quint and Martin Shubik

Print publication date: 2014

Print ISBN-13: 9780300188158

Published to Yale Scholarship Online: May 2014

DOI: 10.12987/yale/9780300188158.001.0001

Show Summary Details
Page of

PRINTED FROM YALE SCHOLARSHIP ONLINE (www.yale.universitypressscholarship.com). (c) Copyright Yale University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in YSO for personal use.date: 16 September 2021

Clearinghouses, Credit, and Control

Clearinghouses, Credit, and Control

Chapter:
(p.137) Chapter 10 Clearinghouses, Credit, and Control
Source:
Barley, Gold, or Fiat
Author(s):

Thomas Quint

Martin Shubik

Publisher:
Yale University Press
DOI:10.12987/yale/9780300188158.003.0010

This chapter is devoted to a discussion of payment systems, credit, and credit clearinghouses. We more fully analyze the variations on the Fisher equation as the system structure changes (as mentioned in chapter 2). That structure might change depending upon the actual transactions being talked about. Next, we diagram how trade, the legal system, and the credit market are interconnected. Finally, we present a variation of the fiat money, no-loan market of chapter 7, in which we also model credit. If there is complete credit (trust) in the market, consumption will be efficient no matter how much money the traders have.

Keywords:   clearinghouse, credit, credit evaluation, Fisher equation (equation of exchange), transaction size

Yale Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.