Monetary Architecture
Monetary architecture
A methodology to represent historically specific monetary and financial systems as a web of balance sheets that comprises different monetary and fiscal institutions and interlocks via different credit instruments.
Off-Balance-Sheet Fiscal Agencies
Off-balance-sheet fiscal agencies
Public-private entities whose activities combine traces of monetary and fiscal policy, and can play a critical role to steer monetary architectures in a large-scale transformation.
Three-Phase Financing Process
Three-phase financing process
The systemic financing of a large-scale transformation requires an initial balance sheet expansion long-term funding, and eventually a final contraction of the balance sheets in a monetary architecture.
The Triad Framework
Triad framework
The ‘triad’ of taxation, government borrowing, and central bank money creation are conventionally seen as the avalaible policy options for a state to finance large-scale transformations.
