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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... expenditure . The only modelling of the money market is required since the price is set by the authorities . The chain of causation from expenditure plans to credit creation ( given the set interest rate ) to deposit creation focuses ...
... expenditure is one multiplicand of multiplier theory , while the marginal propensity to import influences the size of the multiplier . Regional growth theory is concerned further with the dynamic effects of changes in export expenditure ...
... Expenditure must fall . Since within a national currency area there is no necessary distinction between expenditure on local or imported goods from a financial point of view , expenditure on local factors and products will fall along ...
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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