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. |
From inside the book
Results 1-2 of 2
... monetized - or monetary economy , he did not have a theory of money proper . * At first , this statement may appear somewhat strange . After all , if one is working within the confines of a monetary economy , does this not imply , de ...
... monetized economy ... [ where ] the theory of employment and the theory of money are merely two facets of one and the same analysis " . Neoclassical economists will certainly claim that they do indeed have a theory of money . Apart from ...
Contents
Some Reflections on Endogenous Money | 11 |
Setting the Record Straight | 31 |
From the Horizontalist Revolution | 69 |
Copyright | |
10 other sections not shown