Full Reserve Banking

References

Ahamed, Liaquat. 2016. Die Herren des Geldes: Wie vier Bankiers die Weltwirtschaftskrise auslösten und die Welt in den Bankrott trieben. 3rd ed. Munich: FBV.

Akhtar, M. A. 1995. “Monetary Policy and Long-Term Interest Rates: A Survey of Empirical Literature.” Contemporary Economic Policy 13 (3): 110–30. https://doi.org/10.1111/j.1465-7287.1995.tb00727.x.

Anderson, Benjamin M. 1979. Economics and the Public Welfare: A Financial and Economic History of the United States, 1914–1946. 2nd ed. Indianapolis, Ind.: Liberty Press.

Bagus, Philipp. 2003. “Deflation: When Austrians Become Interventionists.” Quarterly Journal of Austrian Economics 6 (4): 19–35.

—. 2006. “Five Common Errors about Deflation.” Procesos de mercado: Revista europea de economía política 3 (1): 105–23. https://doi.org/10.52195/pm.v3i1.347.

—. 2007. “Asset Prices: An Austrian Perspective.” Procesos de mercado: Revista europea de economía política 4 (2): 57–94.

—. 2008a. “Monetary Reform and Deflation—a Critique of Mises, Rothbard, Huerta de Soto and Sennholz.” New Perspectives on Political Economy 4 (2): 131–37.

—. 2008b. “Monetary Policy as Bad Medicine: The Volatile Relationship between Business Cycles and Asset Prices.” Review of Austrian Economics 21 (4): 283–300. https://doi.org/10.1007/s11138-008-0042-8.

—. 2009. “The Quality of Money.” Quarterly Journal of Austrian Economics 12 (4): 22–45.

—. 2010. “Austrian Business Cycle Theory: Are 100 Percent Reserves Sufficient to Prevent a Business Cycle?” Libertarian Papers 2 (2): 1–18.

—. 2011. The Tragedy of the Euro. 2nd ed. Eastbourne, East Sussex, U.K.: Terra Libertas.

—. 2012. “Austrian Business Cycle Theory: Are 100 Percent Reserves Sufficient to Prevent a Business Cycle?” Procesos de mercado: Revista europea de economía política 9 (1): 389–410.

—. 2015a. In Defense of Deflation. Cham, Switz.: Springer International. https://doi.org/10.1007/978-3-319-13428-4.

—. 2015b. “The Quality of Monetary Regimes.” In The Next Generation of Austrian Economics: Essays in Honor of Joseph T. Salerno, edited by Per Bylund and David Howden, 19–34. Auburn, Ala.: Mises Institute.

—. 2016. “A Comparison of Direct Investment of Savings and Cash Building of Savings: A Response to Alexandru Patruti.” Quarterly Journal of Austrian Economics 19 (4): 359–75.

Bagus, Philipp, Amadeus Gabriel, and David Howden. 2016. “Reassessing the Ethicality of Some Common Financial Practices.” Journal of Business Ethics 136 (3): 471–80. https://doi.org/10.1007/s10551-014-2525-9.

—. 2018. “On the Necessary and Sufficient Conditions for Legitimate Banking Contracts.” Journal of Business Ethics 147 (3): 669–78. https://doi.org/10.1007/s10551-015-2972-y.

Bagus, Philipp, and David Howden. 2009. “The Legitimacy of Loan Maturity Mismatching: A Risky, but Not Fraudulent, Undertaking.” Journal of Business Ethics 90 (3): 399–406. https://doi.org/10.1007/s10551-009-0050-z.

—. 2010a. “The Term Structure of Savings, the Yield Curve, and Maturity Mismatching.” Quarterly Journal of Austrian Economics 13 (3): 64–85.

—. 2010b. “Fractional Reserve Free Banking: Some Quibbles.” Quarterly Journal of Austrian Economics 13 (4): 29–55.

—. 2011a. “Still Unanswered Quibbles with Fractional Reserve Free Banking.” Review of Austrian Economics 25 (2): 159–71. https://doi.org/10.1007/s11138-011-0163-3.

—. 2011b. “Unanswered Quibbles: George Selgin Still Gets It Wrong with Fractional Reserve Free Banking.” Procesos de mercado: Revista europea de economía política 8 (2): 83–111.

—. 2011c. “Monetary Equilibrium and Price Stickiness: Causes, Consequences and Remedies.” Review of Austrian Economics 24 (4): 383–402. https://doi.org/10.1007/s11138-011-0151-7.

—. 2012. “The Continuing Continuum Problem of Deposits and Loans.” Journal of Business Ethics 106 (3): 295–300. https://doi.org/10.1007/s10551-011-0996-5.

—. 2013. “Some Ethical Dilemmas of Modern Banking.” Business Ethics, the Environment, and Responsibility 22 (3): 235–45. https://doi.org/10.1111/beer.12025.

—. 2016. “The Economic and Legal Significance of ‘Full’ Deposit Availability.” European Journal of Law and Economics 41 (1): 243–54.

—. 2022. “Consumer Rights and Banking Contracts.” Journal of Banking Regulation 24 (1): 105–14. https://doi.org/10.1057/s41261-021-00185-x.

Bagus, Philipp, David Howden, and Walter Block. 2013. “Deposits, Loans, and Banking: Clarifying the Debate.” American Journal of Economics and Sociology 72 (3): 627–44. https://doi.org/10.1111/ajes.12023.

Bagus, Philipp, David Howden, and Amadeus Gabriel. 2015. “Oil and Water Do Not Mix, or: Aliud Est Credere, Aliud Deponere.” Journal of Business Ethics 128 (1): 197–206. https://doi.org/10.1007/s10551-014-2087-x.

—. 2017. “The Hubris of Hybrids.” Journal of Business Ethics 145 (2): 373–82. https://doi.org/10.1007/s10551-015-2884-x.

Bagus, Philipp, David Howden, and Jesús Huerta de Soto. 2018. “Entrepreneurial Error Does Not Equal Market Failure.” Journal of Business Ethics 149 (2): 433–41. https://doi.org/10.1007/s10551-016-3123-9.

Barnett, William II, and Walter E. Block. 2004. “On the Optimum Quantity of Money.” Quarterly Journal of Austrian Economics 7 (1): 39–52.

—. 2005. “Money: Capital Good, Consumers’ Good, or (Media of) Exchange Good?” Review of Austrian Economics 18 (2): 179–94. https://doi.org/10.1007/s11138-005-6826-1.

Block, Walter, and William Barnett II. 2022. “On Salerno on Money as a Capital Good.” StoriaLibera: Rivista di scienze storiche e sociali 8 (16): 10–24.

Böhm-Bawerk, Eugen von. 1881. Rechte und Verhältnisse vom Standpunkt der Volkswirthschaftlichen Güterlehre. Innsbruck: Verlag der Wagner’schen Universitäts-Buchhandlung.

—. 1891. The Positive Theory of Capital. New York: Macmillan.

Cachanosky, Nicolás, and Peter Lewin. 2016. “An Empirical Application of the EVA Framework to Business Cycles.” Review of Financial Economics 30 (1): 60–67. https://doi.org/10.1016/j.rfe.2016.06.006.

Cantillon, Richard. 2017. Essay on the Nature of Commerce in General. London: Routledge. https://doi.org/10.4324/9781351311526.

Carilli, Anthony M., and Gregory M. Dempster. 2001. “Expectations in Austrian Business Cycle Theory: An Application of the Prisoner’s Dilemma.” Review of Austrian Economics 14 (4): 319–30. https://doi.org/10.1023/A:1011985113936.

Chandler, Lester V. 1958. Benjamin Strong, Central Banker. Washington, D.C.: Brookings Institution.

Corrigan, Sean. 2005. “Shock Report: ‘Rothbardian’ Errors Exposed.” LewRockwell.com, October 7, 2005. https://www.lewrockwell.com/2005/10/sean-corrigan/shock-report/.

Davidson, Laura. 2014. “The Economic Consequences of Loan Maturity Mismatching in the Unhampered Economy.” Quarterly Journal of Austrian Economics 17 (1): 67–91.

Friedman, Milton. 1956. “The Quantity Theory of Money—a Restatement.” In Studies in the Quantity Theory of Money, edited by Milton Friedman, 3–41. Chicago: University of Chicago Press.

Gertchev, Nikolay. 2004. “Dehomogenizing Mises’s Monetary Theory.” Journal of Libertarian Studies 18 (3): 57–90.

Hansen, Kristoffer J. Mousten. 2021. “Are Free Market Fiduciary Media Possible? On the Nature of Money, Banking, and Money Production in the Free Market Order.” Quarterly Journal of Austrian Economics 24 (2): 286–316.

Hayek, Friedrich A. von. 1931. Prices and Production. London: Routledge and Kegan Paul.

—. 1933. Monetary Theory and the Trade Cycle. London: Jonathan Cape.

—. 1999. Good Money, Part II: The Standard. Edited by Stephen Kresge. Vol. 6 of The Collected Works of F. A. Hayek, edited by Bruce Caldwell. Chicago: University of Chicago Press, 1988–2017.

—. 2008. Prices and Production and Other Works: F. A. Hayek on Money, the Business Cycle, and the Gold Standard. Edited by Joseph Salerno. Auburn, Ala.: Ludwig von Mises Institute. https://mises.org/library/prices-and-production-and-other-works.

Herbener, Jeffrey. 2002. “Ludwig von Mises on the Gold Standard and Free Banking.” Quarterly Journal of Austrian Economics 5 (1): 67–91.

Hoppe, Hans-Hermann. 1994. “How Is Fiat Money Possible?—or, the Devolution of Money and Credit.” Review of Austrian Economics 7 (2): 49–74. https://doi.org/10.1007/bf01101942.

Hoppe, Hans-Hermann, Jörg Guido Hülsmann, and Walter Block. 1998. “Against Fiduciary Media.” Quarterly Journal of Austrian Economics 1 (1): 19–50. https://doi.org/10.1007/s12113-998-1001-8.

Howden, David. 2023. “Defining Money.” In Money and the Market Process, edited by David Howden and Philipp Bagus, 159–78. Vol. 1 of The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto. Cham, Switz.: Palgrave Macmillan.

Huerta de Soto, Jesús. 2009. The Theory of Dynamic Efficiency. Abingdon, U.K.: Routledge.

—. 2012. Money, Bank Credit and Economic Cycles. Translated by Melinda A. Stroup. 3rd ed. Auburn, Ala.: Ludwig von Mises Institute. Spanish original published 1998.

—. 2014. “Conferencia sobre ‘Lincoln y la Unión . . . Europea’ (Con una crítica a la denominada ‘teoría de la liquidez’).” In Ensayos de economía política, 229–40. Madrid: Unión Editorial.

—. 2021. “Economic Effects of Pandemics: An Austrian Analysis.” Mises Wire, April 1, 2021. https://mises.org/wire/economic-effects-pandemics-austrian-analysis.

Hülsmann, Jörg Guido. 1996. Logik der Währungskonkurrenz: Ein Versuch auf der Grundlage einer Kantischen Interpretation von Unsicherheit und Institutionen. Berlin: MA Akademie.

—. 1998. “Toward a General Theory of Error Cycles.” Quarterly Journal of Austrian Economics 1 (4): 1–23. https://doi.org/10.1007/s12113-998-1024-1.

—. 2000. “Banks Cannot Create Money.” Independent Review 5 (1): 101–10.

—. 2009. “The Demand for Money and the Time-Structure of Production.” In Property, Freedom and Society: Essays in Honor of Hans-Hermann Hoppe, edited by Jörg Guido Hülsmann and Stephan Kinsella, 309–24. Auburn, Ala.: Ludwig von Mises Institute.

—. 2012a. Introduction to Theory of Money and Fiduciary Media: Essays in Celebration of the Centennial, edited by Jörg Guido Hülsmann, vii–xv. Auburn, Ala.: Ludwig von Mises Institute.

—. 2012b. “The Early Evolution of Mises’s Monetary Thought.” In Theory of Money and Fiduciary Media: Essays in Celebration of the Centennial, 1–36. Auburn, Ala.: Ludwig von Mises Institute.

Humphrey, Thomas M., and Richard H. Timberlake. 2019. Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922–1938. Washington, D.C.: Cato Institute.

Hutt, William H. 1977. The Theory of Idle Resources. 2nd ed. Indianapolis, Ind.: Liberty Press.

Keynes, John Maynard. 1936. The General Theory of Employment, Interest, and Money. New York: Harcourt, Brace.

—. 1964. The General Theory of Employment, Interest, and Money. San Diego: Harcourt.

Köhler, Michael. 2015. Humes Dilemma—oder: Das Geld und die Verfassung: “Geldschöpfung” der Banken als Vermögensrechtsverletzung. Berlin: Duncker und Humblot.

Lachmann, Ludwig M. 1978. Capital and Its Structure. Kansas City, Mo.: Sheed Andrews and McMeel.

Longfield, S. M. 1840. “Banking and Currency.” 4 pts. Dublin University Magazine 15:3–15, 218–33; 16:371–89, 611–20.

Machlup, Fritz. 1932. “The Liquidity of Short-Term Capital.” Economica 37:271–84. https://doi.org/10.2307/2548589.

—. 1940. The Stock Market, Credit and Capital Formation. London: William Hodge.

—. 1970. “Euro-Dollar Creation: A Mystery Story.” Banca Nazionale del Lavoro Quarterly Review 23 (94): 219–60.

Mints, Lloyd W. 1945. A History of Banking Theory in Great Britain and the United States. Chicago: University of Chicago Press.

Mises, Ludwig von. 1912. Theorie des Geldes und der Umlaufsmittel. Munich: Duncker und Humblot. https://mises.org/library/theorie-des-geldes-und-der-umlaufsmittel.

—. 1924. Theorie des Geldes und der Umlaufsmittel. 2nd ed. Munich: Duncker und Humblot.

—. 1953. The Theory of Money and Credit. Translated by H. E. Batson. New Haven, Conn.: Yale University Press. German original published 1912. https://mises.org/library/theory-money-and-credit.

—. 1998. Human Action: A Treatise on Economics. Scholar’s ed. Auburn, Ala.: Ludwig von Mises Institute. First published 1949. https://mises.org/library/human-action-0.

Murphy, Robert P. 2021. Understanding Money Mechanics. Auburn, Ala.: Mises Institute. https://mises.org/library/understanding-money-mechanics-3.

Parnell, Henry. 1827. Observations on Paper Money, Banking and Other Trading, including those parts of the evidence taken before the Committee of the House of Commons which explained the Scotch system of banking. London: James Ridgway.

Rallo, Juan Ramón. 2014. “Las malas críticas de Sean Corrigan a la doctrina de las letras reales.” Juan Ramón Rallo (blog), January 1, 2014. https://juanramonrallo.com/las-malas-criticas-de-sean-corrigan-a-la-doctrina-de-las-letras-reales/.

—. 2019. Una crítica a la teoría monetaria de Mises: Un replanteamiento de la teoría del dinero y del crédito dentro de la Escuela Austriaca de Economía. Madrid: Unión Editorial.

Rothbard, Murray N. 1978. “Austrian Definitions of the Supply of Money.” In New Directions in Austrian Economics, edited by Louis M. Spadaro, 143–56. Kansas City, Mo.: Sheed Andrews and McMeel.

—. 2000. America’s Great Depression. 5th ed. Auburn, Ala.: Ludwig von Mises Institute. https://mises.org/library/americas-great-depression.

—. 2001. Man, Economy, and State: A Treatise on Economic Principles. Rev. ed. Auburn, Ala: Ludwig von Mises Institute.

Salerno, Joseph T. 1987. “The ‘True’ Money Supply, a Measure of the Supply of the Medium of Exchange in the U.S. Economy.” Austrian Economics Newsletter, Spring 1987. https://mises.org/library/true-money-supply-measure-supply-medium-exchange-us-economy-0.

—. 2012. “A Reformulation of Austrian Business Cycle Theory in Light of the Financial Crisis.” Quarterly Journal of Austrian Economics 15 (1): 3–44.

—. 2020. “Why You Should Read Human Action—Very Carefully.” Mises Wire, August 16, 2020. https://mises.org/wire/why-you-should-read-human-action-very-carefully.

—. 2021. “Is There Such a Thing as Good Inflation?” Mises Wire, June 25, 2021. https://mises.org/library/there-such-thing-good-inflation.

Say, Jean-Baptiste. 1964. A Treatise on Political Economy. New York: Augustus M. Kelley. First published 1821.

Schumpeter, Joseph A. 1954. History of Economic Analysis. London: George Allen and Unwin.

Selgin, George. 1989. “The Analytical Framework of the Real-Bills Doctrine.” Journal of Institutional and Theoretical Economics/Zeitschrift für die gesamte Staatswissenschaft 145 (3): 489–507.

Selgin, George, and Lawrence White. 1996. “In Defense of Fiduciary Media.” Quarterly Journal of Austrian Economics 9 (2): 83–107.

Serrano, Joel. 2022. “La liquidez frente al teorema de la regresión del dinero: Una crítica a J. R. Rallo.” Procesos de mercado: Revista europea de economía política 19 (1): 63–95. https://doi.org/10.52195/pm.v19i1.776.

Smith, Adam. 1937. An Inquiry into the Nature and Causes of the Wealth of Nations. New York: Random House. First published 1776.

Somary, Felix. 1930. Bankpolitik. 2nd ed. Tübingen: C. B. Mohr (Paul Siebeck).

Strigl, Richard von. 2000. Capital and Production. Auburn, Ala.: Ludwig von Mises Institute.

Thornton, Henry. 1978. An Enquiry into the Nature and Effects of the Paper Credit of Great Britain. Edited by Friedrich A. von Hayek. Fairfield, N.J.: Augustus M. Kelley.

Van Den Hauwe, Ludwig. 2006. “The Uneasy Case for Fractional-Reserve Free Banking.” Procesos de mercado: Revista europea de economía política 3 (2): 143–96. https://doi.org/10.52195/pm.v3i2.340.

Williams, Jeffrey C. 1984. “Fractional Reserve Banking in Grain.” Journal of Money, Credit and Banking 16, no. 4, pt. 1: 488–96. https://doi.org/10.2307/1992186.

Zhu, Joy. 2013. “Federal Reserve Reform Act of 1977.” Federal Reserve History (blog), November 22, 2013. https://www.federalreservehistory.org/essays/fed-reform-act-of-1977.