Volatility of returns of the financial assets, and the volatility of the inflation and aggregate demand, are important issues in the Financial markets, and the Macro- monetary economics. In this article, the conditional expected returns of the stocks and conditional volatility of returns-...

Now there is no part of our economic system which works so badly as our monetary and credit arrangements; none where the results of bad working are so disastrous socially; and none where it is easier to propose a scientific solution. (J. M. Keynes: Speech to the Liberal Party, December 1923, The...

This paper relates Keynes's discussions of money, the state theory of money, financial markets, investors' expectations, uncertainty, and liquidity preference to the dynamics of government bond yields for countries with monetary sovereignty. Keynes argued that the central bank can influence the...

This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes in-trinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the...

The cryptocurrency Bitcoin has been marketed as revolutionary new money and an attractive investment. But closer examination suggests that Bitcoin works poorly as money and does not qualify as an asset based on user value. Instead, almost all Bitcoin trading has purely speculative purposes

Efficient progress of the monetary theory of production (MTP) is hampered by an unsatisfactory account of how profit and interest emerge in the monetary circuit. As matter of fact, this question puzzled already the classics. It seems evident that it cannot be answered by applying the usual...

This study analyses the importance of Saudi Arabia's banking sector in the monetary transmission process. Data is segmented into pre and post financial crisis, and the methodology is centered in using the autoregressive distributed lag model to test for long run relationships. Findings over the...

Efficient progress of the monetary theory of production (MTP) is hampered by an unsatisfactory account of how profit and interest emerge in the monetary circuit. As matter of fact this question puzzled already the Classics. It seems evident that it cannot be answered by applying the usual tools....