Abstract
The global monetary situation of a national economy is usually simply expressed by the following CBS (consolidated banking system) equation:
where DLX is net foreign reserves, CLSP is net credit to the public administrative sector, CLEP is net internal credit to the private sector made up of companies and private individuals, M2 is the volume of monetary assets held by the private sector and DIV are sundry items.
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© 1988 Springer-Verlag Berlin Heidelberg
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Antao, M. (1988). Causal Relations among the Sources of Money Supply the Portuguese Case. In: Laussel, D., Marois, W., Soubeyran, A. (eds) Monetary Theory and Policy. Studies in Contemporary Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-74104-3_7
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DOI: https://doi.org/10.1007/978-3-642-74104-3_7
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