Read Yeager (1997), and you will see what the BFH system refers to, Black, Fama and Hall. You can’t just make it up. That’s not creative writing. Yeager (1976) deals with international economic relations, so it is the wrong reference. For one hundred percent reserves, you must read Huerta de Soto. What does that system entail? What are the characteristics of free banks? You must define the three systems based on the course literature to begin with. What system is Garrison’s capital-based macroeconomics based on? What happens to credits? What does this mean for financing innovative, productive investments? What is the difference between free banks and the BFH system, according to Yeager. What does the BFH system mean? Your description has little to do with that system. Read Yeager! What is capital structure and how is it affected by international inflows. Read and use the course literature!
Rewrite the entire essay, taking into account the comments above as well as the course literature.
Essay:
Each student shall individually write an essay (3400-3600 words), using a capital-based
macroeconomic framework and taking stability and progress considerations into account. The essay shall contain references used in the analysis. Follow the guidelines of a journal, such as
the Journal of Economic Behavior & Organization.uploading essay i submitted earlier