Since the beginning of the fall of monetarism in the mid-1980s, mainstream macroeconomics has incorporated many of the principles of post-Keynesian endogenous money theory. This paper argues that the most important critical component of post-Keynesian monetary theory today is its rejection of...

This chapter puts forward a manual for how to setup and solve a continuous time model that allows to analyze endogenous (1) level and risk dynamics. The latter includes (2) tail risk and crisis probability as well as (3) the Volatility Paradox. Concepts such as (4) illiquidity and liquidity...

The dominant postwar tradition in economics assumes the utility maximization of economic agents drives markets toward stable equilibrium positions. In such a world there should be no endogenous asset bubbles and untenable levels of private indebtedness. But there are. There is a competing...

Cover; Zum Inhalt_Autor; Titel; Vorwort; Inhaltsübersicht; Inhaltsverzeichnis; Kapitel 1 Geld, Zins und Banken; 1.1 Theoretische Grundlagen; 1.1.1 Die Funktionen des Geldes: Zahlungsmittel aus informationstheoretischer Sicht; 1.1.2 Traditionelle Strategien zur Wahrung des Geldwertes:...