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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... assets among financial investors . This in turn raises the cost of raising equity capital , raises the long - term rate of interest relative to the short - term rate , and raises further the liquidity premium on money and other liquid ...
... assets : currency , bank , reserves , demand deposits , time deposits and so on ) . The preferred liquidity ... financial markets . ( The housing market is a notable example of thinness when values fall . ) Similarly real assets are more ...
... financial assets ( rather than financial and industrial capitalists ) . It was activity in speculative markets which determined the availability and cost of finance for productive activity , and thus posed a potential constraint on ...
Contents
Methodology and the Analysis of a Monetary Economy | 5 |
Money Supply Endogeneity | 21 |
The meaning of endogeneity within a theoretical | 27 |
Copyright | |
11 other sections not shown