Subject The article discusses the theoretical issues of endogeneity and exogeneity of money from the perspective of various economic schools. Objectives The aim is to formalize the basics of the criterion-oriented approach for describing the endogeneity and exogeneity of money. Methods I offer two approaches to consider the endogeneity and exogeneity of money. The first one rests on using the dichotomy. The second approach contains a wider range of variables (criteria), like the type of economy, fluctuations in economic activities, the state of economic system, time horizon, forms of money and innovation in general. Results The criteria-based approach enabled to get a more comprehensive view to describe the sources of endogeneity and exogeneity of money, and, therefore, helped understand changes in the degree of endogeneity and exogeneity of money in the modern economy. Conclusions In current conditions of dynamic development of the global financial market, the increase in innovative financial instruments and forms of money, the objective prerequisites are formed to endogenize the money supply and calibrate the corresponding monetary instruments.
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