4: The Money View, Micro and Macro

Lecture PDF

Lec 4-1: Dealer of Last Resort

FT article link

Lec 4-2: Reading: Hyman Minsky

Henry Simons

Minsky Moment (New Yorker article)

Lec 4-3: Payments: Money and Credit

Money in the Modern Economy

Money Creation in the Modern Economy

Lec 4-4: Payments: Discipline and Elasticity

Lec 4-5: The Survival Constraint

Lec 4-6: Sources and Uses Accounts

Flow of Funds Accounts

Lec 4-7: Payment Example: Money and Credit

Lec 4-8: Flow of Funds Accounts

Copeland, check out Ch. 1-3 and 7

Office of Financial Research

Lec 4-9: The Survival Constraint, redux

Lec 4-10: Liquidity, Long and Short

Lec 4-11: Financial Fragility, Flows and Stocks