pt. 1. Heterodox economic theory and money in macroeconomics -- pt. 2. Distribution and aggregate demand -- pt. 3 …Money, distribution and economic policy takes issue with the inappropriate treatment of money, effective demand and …: the development of heterodox theory, the role of money in macroeconomics, the relationship between distribution and …

recognition to the intertemporal nature of households' saving decisions. Like traditional IS-LM, however, the optimizing version … tends to understate the value of money as an indicator for monetary policy. …

economics, and is renowned as the progenitor of the "horizontalist" analysis of endogenous money. More recently, he has embraced … macroeconomics of endogenous money -- pt. 4. The macroeconomics of exogenous interest rates -- pt. 5. Unemployment, inflation and the …

money. In this context, they highlight the relevance of Abba Lerner's famous dictum, 'money is a creature of the State'. The …

. Specifically, they characterize the optimal return on money in the presence of credit arrangements. There is a dual role for credit …: It allows buyers to trade without fiat money and also permits them to borrow against future income. However, not all … traders have access to credit. As a result, there is a social role for fiat money because it allows agents to self …

Money and credit are key themes of Allan H. Meltzer's ground-breaking work which is celebrated in this outstanding … collection of his essays and papers. Money, Credit and Policy covers the demand for money, the relation of money to output, the …. Focusing on the relations between money and credit, and in turn their relationship to output, prices and inflation, this volume …

relationship. A number of controversial issues regarding the demand for money are empirically investigated and the functioning of a … several issues relating to both current and future developments of monetary institutions: the optimum quantity of money, the … of the economy must be set. Money and Monetary Systems will be of great interest and value to economists specialising in …

rate. Money’s role in monetary policy has been tertiary, at best. Indeed, several influential economists have suggested … that money is irrelevant for monetary policy. They suggest that central banks can control inflation by (i) controlling a … rate in order to exert greater control over longer-term rates. I offer an alternative perspective: namely, that money is …

the origin of the aggregate volatility reduction. We show that states with relatively high concentrations in the durable-goods …