Credit, Interest Rates and the Open Economy: Essays on HorizontalismLouis-Philippe Rochon, Matias Vernengo The horizontalist perspective is an extension of the post-Keynesian approach, that has hitherto focused on a theory of credit and money. This book extends horizontalism beyond its traditional boundaries and makes it consistent with the post-Keynesian theories of output and the open economy. The authors compare and contrast the horizontalist position with various orthodox and non-orthodox views on money. They argue that horizontalism is perfectly compatible with liquidity preference, credit constraints, and a flexible interest-rate mark-up, and address recent developments in banking that reinforce the validity of a horizontal schedule of credit-money. The overall intention is to place horizontalism within the current heterodox tradition as a general theory of the creation of money that is consistent with the post-Keynesian view on macroeconomic policy. Credit, Interest Rates and the Open Economy is essential reading for those who wish to expand their theoretical understanding of international financial issues and will be of great interest to those involved in macroeconomics, money and banking and radical economics. |
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... developed within the lines of a monetary circuit . She explains not only the creation of money , but its circulation and ultimate destruction through the reflux principle , which the reincarnated Kaldor ( 1970 , 1982 ) would later develop ...
... developed by Bresciani is still dominant , other aspects of his analysis are now considered inaccurate , in particular the view according to which the fall of the Weimar Republic and the rise of the Nazi regime can be attributed to ...
... developed in the 1920s by Gustav Cassel - although its origins can be traced to the writings of the Salamanca School , in the sixteenth century in a period marked , as much as the current period , by large exchange rate oscillations ...
Contents
Some Reflections on Endogenous Money | 11 |
Setting the Record Straight | 31 |
From the Horizontalist Revolution | 69 |
Copyright | |
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