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Is there room for bulls, bears, and states in the circuit?
Wray, L. Randall - 2011
John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and … capital asset prices, and thus investment theory, hanging. This paper extends Kregel's analysis to an examination of the role … requires an extension of the circuit theory of money, along the lines of the credit and state money approaches of modern …
Persistent link: https://www.econbiz.de/10009523597
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On some principles to fix the quantity of bank money
Congdon, Tim - 2019
Persistent link: https://www.econbiz.de/10012122484
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Money, banking and financial markets
Andolfatto, David; Berentsen, Aleksander; Martin, … - 2017
The fact that money, banking, and financial markets interact in important ways seems self-evident. The theoretical nature of this interaction, however, has not been fully explored. To this end, we integrate the Diamond (1997) model of banking and financial markets with the Lagos and Wright...
Persistent link: https://www.econbiz.de/10011790432
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Review / Federal Reserve Bank of St. Louis
Federal Reserve Bank of St. Louis - St. Louis, Mo. - 1.1919 -
Persistent link: https://www.econbiz.de/10000358848
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Analysis of monetary policy and financial stability : a new paradigm
Goodhart, Charles A. E.; Osorio, Carolina; Tsomocos, … - 2009
This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for a comprehensive assessment of regulatory and monetary policy, as well as welfare analysis in the different sectors of the economy. Due to liquidity and endogenous default, the...
Persistent link: https://www.econbiz.de/10003923247
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Money as money vs. money as capital: distinguishing the roles of banks and non-bank financial institutions in Marx’s conceptual framework
Höfig, Bruno; Müller, Leonardo André Paes - 2022
Persistent link: https://www.econbiz.de/10013339126
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The great crisis and the American response
Galbraith, James K. - 2010
Senior Scholar James K. Galbraith argues the fundamental illusion of viewing the US economy through the free-market prism of deregulation, privatization, and a benevolent government operating mainly through monetary stabilization - the prevailing view among economists over the past three...
Persistent link: https://www.econbiz.de/10003985698
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Democratizing money
Kregel, Jan A. - 2019
In the Western interpretation of democracy, governments exist in order to manage relations of property, with absence of property ownership leading to exclusion from participation in governance and, in many cases, absence of equal treatment before the law. Democratizing money will therefore...
Persistent link: https://www.econbiz.de/10012006324
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The missing macro link
Caverzasi, Eugenio - 2013
This paper addresses the critique of the aggregational problem attached to the financial instability hypothesis of Hyman Minsky. The core of this critique is based on the Kaleckian analytical framework and, in very broad terms, states that the expenditure of firms for investment is at the same...
Persistent link: https://www.econbiz.de/10009703668