Juan Ramón Rallo

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Juan Ramón Rallo is a Spanish economist associated with the Austrian school, a classical liberal and a minarchist.

External links

Lectures and articles

Universal basic income

Monetary theory

Rallo’s monetary work places liquidity and financial contracts at the centre of the analysis of money and banking.

  • Regression theorem. He argues that expected future liquidity can support present monetary demand. Prior nonmonetary usefulness may help explain money’s emergence without being a necessary condition.[2]
  • Free banking. He emphasizes freedom of entry, convertibility and creditors’ ability to discipline issuers, distinguishing free banking from banking protected by privileges.[3]
  • Liquidity and maturity. His defence of real bills concerns coordination between the timing, risk and liquidity of savers’ claims and banks’ investments.[4]

Lawrence H. White disputes Rallo’s treatment of maturity transformation: banks can estimate actual withdrawal patterns, and a bill due in ninety days does not supply cash immediately during a general run.[5]

See also

References