Advances in Endogenous Money Analysis PDF Download
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Author: Louis-Philippe Rochon
Publisher: Edward Elgar Publishing
ISBN: 1783472243
Category : Business & Economics
Languages : en
Pages : 465
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Book Description
The endogenous nature of money is a fact that has been recognized rather late in monetary economics. Today, it is explained most comprehensively by the theory of money in post-Keynesian monetary theory. The expert contributors to this enlightening book revisit long-standing debates on the endogeneity of money from the position of both horizontalists and structuralists, and prescribe new areas of research and debate for post-Keynesian scholars to explore.
Author: Louis-Philippe Rochon
Publisher: Edward Elgar Publishing
ISBN: 1783472243
Category : Business & Economics
Languages : en
Pages : 465
Get Book Here
Book Description
The endogenous nature of money is a fact that has been recognized rather late in monetary economics. Today, it is explained most comprehensively by the theory of money in post-Keynesian monetary theory. The expert contributors to this enlightening book revisit long-standing debates on the endogeneity of money from the position of both horizontalists and structuralists, and prescribe new areas of research and debate for post-Keynesian scholars to explore.
Author: Marc Pilkington
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
The theory of endogenous money is the cornerstone of Post-Keynesian economics, which dates back to the pioneering writings of authors such as J. Robinson, Kaldor and Kalecki. Second generation Post-Keynesians such as Paul Davidson and Basil Moore have clearly drawn the boundaries of Post-Keynesian theory in accordance with Keynes' intellectual legacy and economic thought. Post-Keynesian monetary theory was openly critical of classical economics and also proved to be a constructive attempt to provide an alternative theoretical framework to the unsatisfactory IS/LM model, which assumed an exogenous money supply as well as an endogenous rate of interest.Firstly, we will study the genesis, the epistemology and the recent developments of the endogenous money theory through its opposition to the quantity theory of money, the still prevailing paradigm in contemporary monetary theory. Secondly, we will establish the complete reversal of the quantity theory of money by the endogenous theory of money in the recent history of economic thought. Finally, once this reversal has been established, a Post-Keynesian analysis of credit institutions will help us determine new solutions for economic policy aiming at full employment. Following Keynes' ideas, Post-Keynesians are concerned with the means to reach the full employment objective and therefore with economic policy. Post-Keynesianism is not an esoterical attempt to debate, once more, the ontological nature of money but is rather a practical reflection on the optimal economic policies resting on an in-depth understanding of money and credit.
Author: Sergio Rossi
Publisher: Routledge
ISBN: 1134190786
Category : Business & Economics
Languages : en
Pages : 237
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Book Description
International in scope and written by a leading young Post-Keynesian economist, this book focuses on the working of money and payments in a multi-bank settlement system within which banks and non-bank financial institutions have been expanding their operations outside their countries of incorporation.Departing from conventionally held beliefs, Serg
Author: L. Randall Wray
Publisher: Springer
ISBN: 1137539925
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
Author: Philip Arestis
Publisher: Edward Elgar Publishing
ISBN: 1847202802
Category : Business & Economics
Languages : en
Pages : 535
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Book Description
Consists of over 30 major contributions that explore a range of work on money and finance. The contributions in this handbook cover the origins and nature of money, detailed analyses of endogenous money, surveys of empirical work on endogenous money and the nature of monetary policy when money is endogenous.
Author: Ms.Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author: Hassan Bougrine
Publisher: Edward Elgar Publishing
ISBN: 1786439573
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
Hassan Bougrine, Louis-Philippe Rochon and the expert contributors to this book explore issues of economic growth and full employment; presenting a clear explanation to stagnation, recessions and crises, including the latest Global Financial Crisis of 2007-8. With a central focus on the role played by government spending, deficits and debt as well as the setting of interest rates, the chapters propose alternative policies that can be used by central banks and fiscal authorities to deal with problems of income inequality, unemployment and slow productivity.
Author: L. Randall Wray
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
This widely acclaimed book argues that money is not the product of a simple deposit multiplier process. The impressive analysis includes discussions of the origins and nature of money and of the evolution of monetary institutions and theory. Unlike other recent works on 'endogenous money', this book incorporates liquidity preference theory within the analysis by carefully distinguishing money from liquidity and by showing how money, but not liquidity, is created on demand. This naturally leads to a role for liquidity preference in the determination of interest rates. Extensions then link money to financial instability, the expenditure multiplier, credit, saving, investment, development, deficits and growth. This controversial and provocative book will be essential reading for all economists and researchers concerned with monetary and macroeconomics. It will have particular appeal to post Keynesian economists.
Author: Louis-Philippe Rochon
Publisher: Edward Elgar Publishing
ISBN: 1788973933
Category : Business & Economics
Languages : en
Pages : 475
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Book Description
This Encyclopedia is an invaluable reference book for post-Keynesian and heterodox economics. It consists of 300 entries, written by 180 different authors. The volume includes entries on key concepts of interest to post-Keynesians as well as descriptions of some of the seminal books in the post-Keynesian tradition. It will interest both students and scholars of heterodox economics, as well as policy makers around the world looking for a better alternative to mainstream economic policies at national and international levels in the aftermath of the global financial crisis that burst in 2008 and the COVID-19 pandemic crisis that began in 2020.
Author: Daniela Tavasci
Publisher: Edward Elgar Publishing
ISBN: 1788113489
Category : Business & Economics
Languages : en
Pages : 157
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Book Description
Stemming from the idea that economics is a social science that tends to forget its own history, this refreshing book reflects on the role of teaching with historical perspectives. It offers novel ways of integrating the history of economics into the curriculum, both in history of economic thought modules and in other sub-disciplines. Coming from a wide diversity of experiences, the chapters share the idea that studying the history of thought exposes students to pluralism and is therefore an essential pedagogical tool.
