Primer: Understanding The Money Multiplier Model — Brian Romanchuk

Summary:
The standard MMT position is that the money multiplier is wrong (doesn't exist in the real world of banking). MMT explains this is in terms of the erroneous loanable funds assumption.Brian looks at the assumptions of the model, on which the model is built. There are still quite a few people that believe in the money multiplier and it appear to be still prevalent in texts books. So it is worthwhile knowing the background, which Brian's post summarizes.Bond Economics Primer: Understanding The Money Multiplier ModelBrian Romanchuk

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