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: ,

Burda, M. - Wyplosz, Ch. (2007) , ,


Gutenberg,

Krugman, P. - Wells, R. (2009) , ,


Mankiw, N. G. -Taylor, M. P. (2010) , ,
Gutenberg,
Samuelson, P. - Nordhaus, W. (2000) , , ,
Stiglitz, J. E. - Walsh,C. E. (2009) , ,

,
:

:
,

,
.
- (commodity money).

(fiat
money), .

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.
.
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Boggs

J.S.G. Boggs
.
, In God We Rust [ ]
In God We Trust [ ].

. , ,
20 .
, Boggs
, , .
Boggs.
, , .
420.000 ! , ,
Smithsonian .

.
Boggs . , 1998,
Boggs : , ,
, .
Stiglitz, J. E.- Walsh,C. E. (2009) , , , . 395-396


, World Development Report, 1989, .

, Zelie, , society islands
. , 3 ,
23 , 44 , 5000 , ,
,
. W.S. Jevons (1898)

Kanbula (Beijing)
,
.
. .
, ,
. , .
Begg D- Fischer S.-Dornbusch R, (2006), , , , , . 127

:
1 = +
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2 = 1 +
+
3 = 1 + 2 + +
+ +

() ()
,
.


.

.



, :
i = r + e

r = i e

, i , r
e .

.
,
.

,
.
e - typos, 21/09/2007

:
(M/P) d = L(Y, i, c)
, ,
, i c
.
:
-
-

6.1:


, ,
.

: L (Y, i , c)
(+, -, +)

1998
, .
,
, 2 ,
24,1% 2006 -
1998. ,
.

,
2005,
,
.
, ,
.

.
www.capital.gr, 24/01/2007


, .
12
20 , 69,8 2007 50
2006,
.
4 ,
76,2 2006 72
2007.
5%
3,7% , ,
.
, 08/01/2008

6.2: H
.
()
(), Ms1 Ms2 (Ms3).

s 3

s 1

s 2

6.3:

: L ( Y , i , c )
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.
www.capital.gr,16/05/2008


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(money multiplier),
:
= 1/

H :


10%. , 100 ,
10
.
1: 100 ,
90.
190
(100 90 ).

2:
90.
90
, 9 (10%)
81.
271 (=
100 + 90
+ 81 )

: 10
: 90

:
100

: 9
: 81

:
90


20%. , 100 ,

20 .
1: 100 ,
80.

180 (100 80 ).

2:
80.
80
, 16
(20%) 64.

244 (= 100 + 80
+ 64
).

: 20
: 80

:
100

: 16
: 64

:
80

()
()

: 10%

90%

100

90 (= 100* 0,9)

81 (= 90* 0,9)

72,9 (= 81* 0,9)

.
.
.

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100/ 0,1= 1.000

: 20%

80% .

100

80 (= 100* 0,8)

64 (= 80* 0,8)

51,2 (= 64* 0,8)

.
.
.

.
.
.

100/ 0,2= 500

, . 1930-1933,
, ,
.
, Milton Friedman
Anna Schwartz Monetary History of the Unites States, 1867-1960,
.
.
Friedman Schwartz : (1)
1930, (2)
, Bank of United States, 1930 ( , ), (3)
1931 ,
4) 1931.
1933
Roosevelt , 1933.
,
.
Abel A., Bernanke B., (2002), , , 4 , , . 359

2009
G20.
.

.
(
) .
,

.
Timothy F. Geithner
,
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The New York Times, 23/09/2009

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1964,
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2012 534,6 ,
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, 15/02/2013

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(quantitative easing)

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.
,
.

Nouriel Roubini
, ,

.
, Wolfang Schuble
Fed,
. , .
Nouriel Roubini Fed

.
www.capital.gr (12/11/2010)

6.4:


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, 25/06/2009

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(stress tests),


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.
50% .
, EFG Eurobank, Alpha Bank,
, bank, .
2010 2011:
,
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, (2010), .

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Bloomberg, 20/02/2013

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crash),
.

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, 3-4%.
Bloomberg, 18/02/2013

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Stiglitz, J. E.- Walsh,C. E. (2009) , , , .412-415.

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