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 32
... Money is destroyed , the circuit is closed , and a new circuit is ready to begin . Provided of course households do not save , then firms will have succeeded in extolling from the circuit the exact amount of ... Credit , Money and Production.
... Money is destroyed , the circuit is closed , and a new circuit is ready to begin . Provided of course households do not save , then firms will have succeeded in extolling from the circuit the exact amount of ... Credit , Money and Production.
Page 34
... money and holding other assets . If it is greater than one , households prefer securities over money , and firms enjoy a reflux from the securities market . Finally , only when the ratio is 34 Credit , Money and Production.
... money and holding other assets . If it is greater than one , households prefer securities over money , and firms enjoy a reflux from the securities market . Finally , only when the ratio is 34 Credit , Money and Production.
Page 36
... firms . " The claim that banks act as " financial intermediaries " may not be the best description of the process . Although this role resembles the orthodox argument of deposits and loans , it is important to 36 Credit , Money and ...
... firms . " The claim that banks act as " financial intermediaries " may not be the best description of the process . Although this role resembles the orthodox argument of deposits and loans , it is important to 36 Credit , Money and ...
Page 42
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. 2. Credit , Money and Post - Keynesian Theory : Clarifications of Familiar Themes The theory of monetary circulation presented in the previous chapter showed how money in a ...
An Alternative Post-Keynesian Approach Louis-Philippe Rochon. 2. Credit , Money and Post - Keynesian Theory : Clarifications of Familiar Themes The theory of monetary circulation presented in the previous chapter showed how money in a ...
Page 46
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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