In this article we will discuss about the importance of the distinction between inside money and outside money. First, we study the importance of the distinction between the two in a period of rising or falling prices. When there’ is inflation or deflation, a change in the purchasing power of money in the case of […]
Distinction between Inside Money and Outside Money
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Gross Money Doctrine (GMD) and Net Money Doctrine (NMD)
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The upcoming discussion will update you about the difference between Gross Money Doctrine (GMD) and Net Money Doctrine (NMD). Gurley and Shaw have made a distinction between Gross Money Doctrine (GMD) and Net Money Doctrine (NMD) for monetary analysis. In their “modified second model”, they divide the economy into three sectors – consumers, business firms […]