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Over the past two decades there has been a revival of Georg Friedrich Knapp's "state money" approach, also known as chartalism. The modern version has come to be called Modern Money Theory. Much of the recent research has delved into three main areas: mining previous work, applying the theory to...
Persistent link: https://www.econbiz.de/10010441082
approach (chartalism), also adopted by John Maynard Keynes in his Treatise on Money. MMT emphasizes the difference between a …
Persistent link: https://www.econbiz.de/10012242945
oligopoly, may be taken as merely heuristic. -- Keynes ; economic theory ; international payments ; jistory of thought …
Persistent link: https://www.econbiz.de/10003974903
John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and …. -- Circuit Approach ; Liquidity Preference ; Banks as Ephor of Capitalism ; J. M. Keynes ; J. A. Schumpeter ; A. Parguez ; J. A …
Persistent link: https://www.econbiz.de/10009523597
(Georg Friedrich Knapp and A. Mitchell Innes) through Joseph Schumpeter, John Maynard Keynes, and Abba Lerner, and on to …
Persistent link: https://www.econbiz.de/10010252186
John Maynard Keynes's vision, since it is related to a modern financial world. The result of this theoretical exercise is … section are outlined in section 5. References are listed at the end of the paper. -- John Maynard Keynes ; Hyman P. Minsky …
Persistent link: https://www.econbiz.de/10009380295
This paper follows the methodology developed by J. M. Keynes in his How to Pay for the War pamphlet to estimate the … voluntary saving. Following Keynes, we recommend deferred consumption as our first choice should inflation pressures arise. We …
Persistent link: https://www.econbiz.de/10012016741
distribution function. This paper considers critiques of the above models, which include Keynes's Treatise on Probability (1921 …
Persistent link: https://www.econbiz.de/10011948136
The aim of this paper is to develop a structural explanation of the subprime mortgage crisis, grounded on the combination of two apparently incompatible financial theories: the financial instability hypothesis by Hyman P. Minsky and the theory of capital market inflation by Jan Toporowski. Our...
Persistent link: https://www.econbiz.de/10010340278
This paper revisits Keynes's writings from Indian Currency and Finance (1913) to The General Theory (1936) with a focus … on financial instability. The analysis reveals Keynes's astute concerns about the stability/fragility of the banking … system, especially under deflationary conditions. Keynes's writings during the Great Depression uncover insights into how the …
Persistent link: https://www.econbiz.de/10012291986