Credit, Interest Rates and the Open Economy: Essays on HorizontalismLouis-Philippe Rochon, Matias Vernengo 'This book should be on the reading list of every graduate course in monetary economics. The distinguished contributors not only examine and discuss the nature of money and the conduct of monetary policy in a modern credit economy, but also take an hi |
Contents
| 11 | |
| 31 | |
Money without Scarcity From the Horizontalist Revolution to the Theory of the Monetary Circuit | 69 |
Money Endogeneity and Monetary NonNeutrality A Sraffian Perspective | 104 |
Horizontalism and New Keynesian Economics The Role of Scarcity Savings and Sticky Prices | 120 |
The German Balance of Payment School and the Latin American NeoStructuralists | 143 |
Horizontalism and Inflation Accommodation | 160 |
Notes on Hicks on Money and Monetary Theory | 177 |
Bank Creation of Money and Endogenous Money Supply as the Outcome of the Evolution of the Banking System Antonio de Viti de Marcos Contri... | 193 |
The Reflux Mechanism and the Open Economy | 215 |
Monetary Autonomy and Financial Integration | 243 |
Foreign Exchange Interest and Prices The Conventional Exchange Rate | 256 |
Index | 271 |
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Common terms and phrases
aggregate demand analysis argued argument assets balance of payments balance sheet bank credit banking system behaviour borrowers capital causality central bank changes circulation claims commodities compensation principle costs credit-money creditworthiness currency debt deficit demand for credit demand for money deposits determined developed domestic Edward Elgar effective demand endogenous money equilibrium exchange rate exogenous firms fiscal full employment growth Hicks horizontalism horizontalists hyperinflation income increase inflation inflationary interest rates investment issue Kaldor Keynes Keynes's Lavoie lending liquidity preference long-run Macmillan macroeconomic mark-up monetary base monetary circuit monetary economy monetary policy monetary theory money supply Moore natural rate neo-structuralists neoclassical open economy output Parguez post-Keynesians price level private banks production quantity of money rate of interest rate of profit Realfonzo reflux rise Rochon role saving Seccareccia Smithin structuralists supply curve supply of money theory of money variable velocity of money Viti de Marco wealth Wicksell Wicksellian