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 2
... orthodox theories of money . Of course , there is still a need to turn to Kalecki whose views can be easily reconciled with those of Keynes . To achieve these objectives , this book is divided into eight main chapters . In chapter one ...
... orthodox theories of money . Of course , there is still a need to turn to Kalecki whose views can be easily reconciled with those of Keynes . To achieve these objectives , this book is divided into eight main chapters . In chapter one ...
Page 3
... orthodox arguments of the Quantity Theory of Money , such as the exogeneity of the money supply , the causality between reserves and money , and between money and production . These authors adopted a theory of " portfolio " endogeneity ...
... orthodox arguments of the Quantity Theory of Money , such as the exogeneity of the money supply , the causality between reserves and money , and between money and production . These authors adopted a theory of " portfolio " endogeneity ...
Page 4
... orthodox variables within the structuralist or neo - post - Keynesian - tradition are a result of the influence of the early post - Keynesians who had not fully emancipated themselves from orthodox monetary thought . It is argued that ...
... orthodox variables within the structuralist or neo - post - Keynesian - tradition are a result of the influence of the early post - Keynesians who had not fully emancipated themselves from orthodox monetary thought . It is argued that ...
Page 5
... orthodox elements of post - Keynesian 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 ...
... orthodox elements of post - Keynesian 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 ...
Page 7
... orthodoxy - it is nonetheless possible to construct from Keynes a " post- Kaleckian " theory of macroeconomics and ... orthodox elements of post - Keynesian theory . For this , turning to Kalecki seems to be an obvious choice , not for ...
... orthodoxy - it is nonetheless possible to construct from Keynes a " post- Kaleckian " theory of macroeconomics and ... orthodox elements of post - Keynesian theory . For this , turning to Kalecki seems to be an obvious choice , not for ...
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