On the Evolution of Money and its Implications for Price Stability
梳理了文献中三种分析货币的概念框架，分别以特殊商品、一般交换媒介和纯信用经济中的簿记系统作为结算手段，并探讨了它们对旨在维持价格稳定的货币政策的影响。
This review identifies in the literature three distinct conceptual frameworks for analysing money, in which the means of settlement is provided by (i) a special commodity used in exchange, (ii) all generally accepted media of exchange including some bank deposits, and (iii) a book‐keeping system recording changes in ownership of financial assets within a pure credit economy. All three sections consider the implications for monetary policy aimed at maintaining price stability. The paper concludes that future theoretical developments are likely to take place within finance theory rather than being based on the quantity theory of money.