Money and the Economic ProcessIn this important new book, Sheila Dow argues that money is integral to the economic process and that some common principles may be applied when analysing money's role at the regional, national and international levels. The importance of considering the spatial aspects of money's role has been highlighted by recent developments in Europe and elsewhere. Using a post Keynesian perspective, the first five chapters put forward a methodological and theoretical framework for a theory of money which combines endogenous credit creation and liquidity preference. The next five chapters analyse money's role in the economic process as it affects regional economies. The final two chapters adapt the theory in order to analyse finance and development in the international context, and as a basis for discussing possible international institutional reforms. Money and the Economic Process features some of Sheila Dow's most acclaimed articles and papers in this area, as well as including some new work which reveals the recent development of her thought. |
From inside the book
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... behaviour ; since market forces are the aggregation of individual action , the basic axioms had to refer to individual behaviour . " Hence arose the axioms of utility maximising behaviour , with application to all sectors and activities ...
... behaviour can be viewed as exempt from the axioms of individual rationality . Rational expectations theorists are moving in the direction of endogenising public sector behaviour too , further restricting the capacity of their theory to ...
... behaviour an important role only in terms of the stability of the multiplier process . If the rate at which banks increase lending is a sufficiently large multiple of excess reserves in each round of the multiplier process , then net ...
Contents
Methodology and the Analysis of a Monetary Economy | 5 |
Money Supply Endogeneity | 21 |
The meaning of endogeneity within a theoretical | 27 |
Copyright | |
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