Credit, Money, and Production: An Alternative Post-Keynesian ApproachRochon (economics and banking, Kalamazoo College) uses a horizontalist perspective to offer a historical overview of the post-Keynesian and circuit approaches to endogenous money, and provides an informed critique of the development of post-Keynesian econ |
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Page 19
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. Time relationship between effective demand and income is incapable of being precise . In case of factors other than the entrepreneurs and rentiers the two are more or less ...
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. Time relationship between effective demand and income is incapable of being precise . In case of factors other than the entrepreneurs and rentiers the two are more or less ...
Page 23
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. originating from the sales . In other words , there exists a temporal separation of cash flows between the time costs are incurred and the receipt of revenues . Although this ...
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. originating from the sales . In other words , there exists a temporal separation of cash flows between the time costs are incurred and the receipt of revenues . Although this ...
Page 24
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. circuitists . In fact , most of them would exclude the purchase of investment goods from initial finance . This represents perhaps the greatest disagreement between ...
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. circuitists . In fact , most of them would exclude the purchase of investment goods from initial finance . This represents perhaps the greatest disagreement between ...
Page 27
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. fact , Seccareccia ( 1997 , p . 2 ) associates the need to finance production only when the economy is growing with the " neoclassical theorists of loanable funds . ... Even ...
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. fact , Seccareccia ( 1997 , p . 2 ) associates the need to finance production only when the economy is growing with the " neoclassical theorists of loanable funds . ... Even ...
Page 33
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. p . 454 ) has called this process " alternating movements of creation and cancellation of money . " Once this has been achieved , firms must renew their demand for credit to ...
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. p . 454 ) has called this process " alternating movements of creation and cancellation of money . " Once this has been achieved , firms must renew their demand for credit to ...
Contents
8 | |
42 | |
The Early Views of Endogenous Money Minsky Kaldor and Tobin | 82 |
The Early Views of Endogenous Money Revisited Davidson and Rousseas versus Robinson and Kahn | 132 |
Horizontalists and Structuralists Credit and Endogenous Money | 155 |
PostKeynesians and Orthodoxy Neo PostKeynesians? | 202 |
New Keynesian Monetary Theory and the Transmission Mechanism A Comparison with PostKeynesian Theory | 232 |
A PostKeynesianCircuitist Theory of Banks Uncertainty Creditworthiness and the Supply of Credit | 278 |
Bibliography | 301 |
Index | 331 |
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Common terms and phrases
analysis approach Arestis argues argument assets asymmetric information bank credit behavior borrowers causality central bank changes chapter circuitists circulation claims commercial banks credit and money credit rationing credit-money creditworthiness criticism Davidson debt demand for credit demand for money deposits determined Dymski Eichner endogenous money ex ante exogenous finance motive financial innovations firms Graziani Hence horizontalism horizontalist position households increase instance interest rates investment Journal of Post Kalecki Keynesian theory Lavoie liability management liquidity preference loanable funds Macroeconomics mark-up Minsky's monetary circuit monetary policy monetary theory money endogeneity money multiplier money supply curve Moore multiplier model neoclassical Nicholas Kaldor notion orthodox Palley Parguez Pollin portfolio decisions Post Keynesian Economics post-Keynesian theory production profits quantity of money rate of interest Robinson role Rousseas saving Seccareccia structuralists supply of credit supply of money theory of endogenous theory of money Tobin transmission mechanism uncertainty upward sloping velocity of money views Wray