Orjuela, Alexander Villarraga
May 2009
Economía del Caribe;may2009, Issue 3, p230
Academic Journal
This paper is a brief review of the literature on theories of endogenous and exogenous money supply, and its relationship with the concepts of inside money and outside money. The article has three sections. The first one defines the concepts of inside money and outside money. The second one presents the postulates of the orthodox theory or exogenous supply of money along with the positions of some authors who follow this approach (Classical School, Keynes and Monetarist School). The third part deals with the heterodox or endogenous money supply theory, whose main representatives are the Real Business Cycle School and the Postkeynesian School. The last part concludes.


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