The role of debt in aggregate demand - ScienceDirect
2021-3-1 · Moreover, the dynamical equation of public deposits M G can be derived as (18) Δ M G = (T − G) + (N B − R B). Therefore, we can obtain the dynamics of the aggregate deposits M of the economy, in other words, money supply, which is the summation of that of the mentioned three real sectors, as follows, (19) Δ M = Δ M H + Δ M F + Δ M G.