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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... liquidity preference . While expectations of falling asset prices are prevalent , demand for liquidity rises relative to total wealth , or income . At the same time the liquidity of non - money assets falls as markets become less active ...
... liquidity premium ( a movement along the liquidity preference function ) . On the other hand the liquidity premia themselves may change , prompting a change in portfolio preferences ( the liquidity preference function may shift because ...
Sheila C. Dow. prospects . But overall liquidity preference would depend also on the degree of uncertainty attached to the expectations of growth ... liquidity preference . ( See Money and the Pattern of International Development 167.
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