Fundamentals of Money and 
                        Banking
                   Alfredo Schclarek Curutchet
                 National University of Córdoba, Argentina
               National Scientific and Technical Research Council 
                      (CONICET), Argentina
                      www.cbaeconomia.com
                          April, 2022
     1
          Plan for presentation
          1. Motivation
          2. Visions of money
          3. Money view
            1. Hierarchy of monetary system
            2. Fluctuation of monetary system
            3. Liquidity and (in)stability of monetary 
               system
          4. Credit, money and investment
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          Motivation
          — Recent international financial crisis (2007/2009) shows:
            — Understand financial and banking system for macroeconomic
             analysis
            — Mainstream theories (Neoclassical and NewKeynesian) not
             useful for: understanding, predicting and giving policy advise
            — Not sufficient to incorporate credit frictions and banking sector
             in standard DSGE models
            — Mainproblem:underlyingtheoryofmoney
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           Visions of money
           — Metalist:Jevons, Menger,von Mises,Kiyotaki,Wright,neo-
             classical and neo-keynesian
           — Cartalist:Knapp,Mireaux,Goodhart,and post-Keynesian
           — Money view: Perry Mehrling (Columbia University and
             Institute for New EconomicThinking)
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