Austrian perspective, monetary policy, 131–137
Federal Reserve policy and malinvestment, case study, 136–137
Balance sheet, Federal Reserve banks, 60
Bank lending, 55–57
Bank loan, 55–56
net effects of, 56–57
Barter, 1–3
Base money equation, 60–61
Federal Reserve float, 61–63
treasury deposits (TRD), 63–65
Base money multiplier, 65–66
the currency ratio, 66–67
excess reserves (ER) ratio, 68–69
numeric example, 69–70
reserve ratio requirement, 67–68
Central banks, 55–86
Ceteris paribus, 19
Closed market operations, 85–86
Commodity money, 5–6. See also Money
Consumer price index (CPI), 40
CPI. See Consumer price index
Credit contracts, 37–38
DACI. See Deferred availability of cash items
Deferred availability of cash items (DACI), 62
Deflation, ...
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