Source article Tier A
Money creation in the modern economy
Michael McLeay, Amar Radia and Ryland Thomas. "Money creation in the modern economy." Bank of England Quarterly Bulletin 2014 Q1.
Custody docket
- Record
- boe-money-creation-2014
- Type
- article
- Trust tier
- A
- Status
- published
Sources are graded A (primary) / B (secondary academic) / C (secondary journalism) / D (tertiary or contested). See the manifesto’s Evidence Standard for full criteria.
Bank of England article stating that most money in the modern economy is created by commercial banks making loans, and that the textbook “money multiplier” account (banks lending out pre-existing deposits) is a misconception.
Provenance
- Creator
- Michael McLeay, Amar Radia, Ryland Thomas
- Published
- 2014
- Accessed
- 2026-05-21
Cited by
Theme custody
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