Whatever happened to the money supply? This book explains how the analysis of monetary and credit aggregates is undertaken at the Bank of England, the European Central Bank and (as an example of a developing country) the Bank of Tanzania. The book also explores how this analysis relates to these...

This book develops a new monetary model based on the medium of exchange. It builds on existing theory in money, banking and finance to present a more precise formulation of the money supply chain to derive a fully dynamic model. It is supported by the inclusion of case studies, graphs and...

This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price flexibility, and exclusion of the money in utility function (MIU). Based on the new theoretical...

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets and liabilities, thereby...

This volume examines the theory of monetary circulation and applies it to several modern issues including unemployment, inflation, distribution and economic policies. It will provide a valuable contribution to the field of monetary economics, and in particular, its development of...

Selected essays from the eminent economist, Wynne Godley, tracing the development of his work and illuminating the key theories and models that made his name. Essays focus not only on the stock-flow coherent approach, but also lay out Godley's views about the European Union and the stability of...

A collection of papers from leading thinkers to celebrate the work of the late Wynne Godley, and his enormous contribution to the field of monetary economics. Chapters include in-depth discussions of the revolutionary economic modelling systems that Godley introduced, as well as his prescient...

The Underlying Thesis -- How Long and How Much Endowing One Commodity -- Keeping the Endowment Above a Viability Threshold -- Uncertain Endowments and Economic Cycles -- Evolutions and their Temporal Windows -- Endowing Fundamental Values:Willingness To Pay -- Endowing Exchange Values: Adam...

Timm Gudehus begründet in diesem essential die Notwendigkeit einer neuen Geldordnung und beschreibt ihre Vorteile und Chancen. Die Ausführungen sollen dazu anregen, die vorliegenden Vorschläge für eine neue Geldordnung kritisch zu prüfen, bessere Lösungen zu entwickeln, die...

This contribution applies the cointegrated vector autoregressive (CVAR) model to analyze the long-run behavior and short-run dynamics of stock markets across five developed and three emerging economies. The main objective is to check whether liquidity conditions play an important role in stock...