Subject: [OPE-L:1775] RE: the money supply
From: Chai-on Lee (conlee@chonnam.ac.kr)
Date: Tue Nov 30 1999 - 08:36:36 EST
This seems better to ask openly. First of all, I am very grateful to jerry for his prompt reply.
But I still want to raise some questions.
(1) Does Jerry mean that the currency can only be created by the central bank at the present system?
(2) Can the reserves held by private depository banks at the central bank be included in the currency because the private banks are included in the public?
(3) May we use the term, currency, interchangeably with cash or with base money? If then, why do people invent such many words that indicate the same thing?
Yours,
Chai-on
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