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 5
... monetary theory lends itself to a comparison with another " Keynesian , " orthodox approach : the New Keynesians . Chapter seven does just this . It begins first with a sound description of the New Keynesian theory of money . Despite ...
... monetary theory lends itself to a comparison with another " Keynesian , " orthodox approach : the New Keynesians . Chapter seven does just this . It begins first with a sound description of the New Keynesian theory of money . Despite ...
Page 9
... Theory , Keynes's intellectual development and his attempt at building the foundations of a monetary theory of production were a slow progression toward recognizing credit- money as the central institution of modern capitalism . The ...
... Theory , Keynes's intellectual development and his attempt at building the foundations of a monetary theory of production were a slow progression toward recognizing credit- money as the central institution of modern capitalism . The ...
Page 13
... money and monetary theory , there are a number of arguments made by Townshend following the General Theory which would later appear in some form in Keynes's Economic Journal articles . For instance , we know that in the General Theory ...
... money and monetary theory , there are a number of arguments made by Townshend following the General Theory which would later appear in some form in Keynes's Economic Journal articles . For instance , we know that in the General Theory ...
Page 14
... Theory has led some economists to search openly for an " alternative Keynesian approach " to monetary theory . Unlike Minsky's , Kaldor's , Davidson's , and Rousseas's attempts at building a heterodox approach to monetary theory based ...
... Theory has led some economists to search openly for an " alternative Keynesian approach " to monetary theory . Unlike Minsky's , Kaldor's , Davidson's , and Rousseas's attempts at building a heterodox approach to monetary theory based ...
Page 37
... monetary theories . To begin with , this role of banks arises only at the end of the period , and is , so to speak ... theory of the monetary circuit emphasizes many of the important elements of the theory of endogenous money without ...
... monetary theories . To begin with , this role of banks arises only at the end of the period , and is , so to speak ... theory of the monetary circuit emphasizes many of the important elements of the theory of endogenous money without ...
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