Supplying money for use in everyday transactions, so as to obviate the need for cumbersome barter, has been a function of governments for more than 2,000 years. Not surprisingly, government-issued money, once in existence, rapidly became a store of value as well. As an aspect of the history of human society and institutions, the process by which governments supply money has naturally attracted
... [Show full abstract] substantial attention. But the primary interest in money supply within the discipline of economics has stemmed from the proposition that movements in money are an important — according to some views, the most important — determinant of movements in prices, in output and employment, and in other economic phenomena of well-established interest on their own account.