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In this article the debate between Prof. Augusto Graziani and the author on the monetary theory of production is …
Persistent link: https://www.econbiz.de/10011109819
This is a theoretical analysis of the role of money and other less liquid financial assets in the financing of the private sector of a market economy. It is concerned, basically, with the functional relations between households, firms, banks and other financial institutions, and with those...
Persistent link: https://www.econbiz.de/10011111080
which money is neutral, at least in the long run; and the Marx-Veblen-Keynes approach, or the monetary theory of production … that view back to Keynes, arguing that extending Keynes along these lines would bring his theory up to date. …
Persistent link: https://www.econbiz.de/10008868035
cash-balance approach, Walras’ „encaisse désirée“, Keynes’ liquidity preference to the monetarist restatement of the …
Persistent link: https://www.econbiz.de/10011112567
(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/10010754647
Phillips curve, is also assessed in the light of his own preference, which he shared with Keynes, for a pragmatic Marshallian …
Persistent link: https://www.econbiz.de/10010681093
Keynes’ General Theory provides an interesting metaphor for asset markets: they are like newspaper competitions where … closest to the average preferences. Keynes did not explicitly formalise the metaphor but his observations about the bond … of decision rules from the suggestions in the General Theory and Keynes' QJE(1937) paper, and introduces a concept of …
Persistent link: https://www.econbiz.de/10005126429
capitalist economies. This underrates Keynes’ role as a precursor of modern information economics, and risks losing significant …
Persistent link: https://www.econbiz.de/10011031802
An overview is first given of Erik Lindahl's works during the 1920s: Aims of Monetary Policy, "The Place of Capital in the Theory of Price", "On the Relationship between the Quantity of Money and the Price Level" and Means of Monetary Policy. After that the origin of ideas and Lindahl's...
Persistent link: https://www.econbiz.de/10005645465
The first part of the paper surveys the discussion of monetary equilibrium by Wicksell, Lindahl, Myrdal, Ohlin and Palander. In the second part a number of analytical aspects of monetary equilibrium are discussed: The formulation of the first equilibrium condition in terms of prices instead of...
Persistent link: https://www.econbiz.de/10005645494