Liquidity Preference And Monetary Economies
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Liquidity Preference And Monetary Economies
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Author : Fernando J. Cardim de Carvalho
language : en
Publisher: Routledge
Release Date : 2015-05-22
Liquidity Preference And Monetary Economies written by Fernando J. Cardim de Carvalho and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-22 with Business & Economics categories.
The 2008 international crisis has revived the interest in Keynes’s theories and, in particular, on Minsky’s models of financial fragility. The core proposition of these theories is that money plays an essential role in modern economies, which is usually neglected in other approaches. This is Keynes’s liquidity preference theory, which is also the foundation for Minsky’s model, a theory that has been largely forgotten in recent years. This book looks at liquidity preference theory and its most important problems, showing how one should understand the role of money in modern monetary economies. It develops Keynes’s and Minsky’s financial view of money, relating it to the process of capital accumulation, the determination of effective demand and the theory of output, and employment as a whole. Building on the author’s significant body of work in the field, this book delves into a broad range of topics allowing the general reader to understand propositions that have been mistreated in the literature including Keynes and the concept of monetary production economy; uncertainty, expectations and money; short and long period; liquidity preference theory as a theory of asset pricing under uncertainty; asset prices and capital accumulation; Keynes’s version of the principle of effective demand; and the role of macroeconomic policy. It will be essential reading for all students and scholars of Post-Keynesian economics.
Keynes On Monetary Policy Finance And Uncertainty
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Author : Jorg Bibow
language : en
Publisher: Routledge
Release Date : 2013-03-01
Keynes On Monetary Policy Finance And Uncertainty written by Jorg Bibow and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-01 with Business & Economics categories.
This book provides a reassessment of Keynes’ theory of liquidity preference. It argues that the failure of the Keynesian revolution to be made in either theory or practice owes importantly to the fact that the role of liquidity preference theory as a pivotal element in Keynes’ General Theory has remained underexplored and indeed widely misunderstood even among Keynes’ followers and until today. The book elaborates on and extends Keynes’ conceptual framework, moving it from the closed economy to the global economy context, and applies liquidity preference theory to current events and prominent hypotheses in global finance. Jörg Bibow presents Keynes’ liquidity preference theory as a distinctive and highly relevant approach to monetary theory offering a conceptual framework of general applicability for explaining the role and functioning of the financial system. He argues that, in a dynamic context, liquidity preference theory may best be understood as a theory of financial intermediation. Through applications to current events and prominent hypotheses in global finance, this book underlines the richness, continued relevance, and superiority of Keynes’ theory of liquidity preference; with Hyman Minsky standing out for developing Keynes’ vision of financial capitalism.
Keynes On Monetary Policy Finance And Uncertainty
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Author : Jo ̈rg Bibow
language : en
Publisher:
Release Date : 2014-05-14
Keynes On Monetary Policy Finance And Uncertainty written by Jo ̈rg Bibow and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-14 with Financial crises categories.
This book provides a reassessment of Keynes' theory of liquidity preference. It argues that the failure of the Keynesian revolution to be made in either theory or practice owes importantly to the fact that the role of liquidity preference theory as a pivotal element in Keynes' General Theory has remained underexplored and indeed widely misunderstood even among Keynes' followers and until today. The book elaborates on and extends Keynes' conceptual framework, moving it from the closed economy to the global economy context, and applies liquidity preference theory to current events and prominent hypotheses in global finance. Jorg Bibow presents Keynes' liquidity preference theory as a distinctive and highly relevant approach to monetary theory offering a conceptual framework of general applicability for explaining the role and functioning of the financial system. He argues that, in a dynamic context, liquidity preference theory may best be understood as a theory of financial intermediation. Through applications to current events and prominent hypotheses in global finance, this book underlines the richness, continued relevance, and superiority of Keynes' theory of liquidity preference; with Hyman Minsky standing out for developing Keynes' vision of financial capitalism.
Keynes On Monetary Policy Finance And Uncertainty
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Author :
language : en
Publisher:
Release Date : 2009
Keynes On Monetary Policy Finance And Uncertainty written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
In this book, Jrg Bibow illustrates how Keynes' methodology inspired his economic theorizing and how this led to fundamental insights concerning the role of money that contrasted with orthodox closed-system modelling.
Finance Constraints And The Theory Of Money
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Author : S. C. Tsiang
language : en
Publisher: Academic Press
Release Date : 2014-05-10
Finance Constraints And The Theory Of Money written by S. C. Tsiang and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-10 with Business & Economics categories.
Finance Constraints and the Theory of Money: Selected Papers gathers together the work of S. C. Tsiang, one of the most cogent critics of the Keynesian stock approach to money in all its forms and one of the foremost champions of the flow approach. Tsiang's papers focus on finance constraints and the theory of money, tackling topics such as the role of money in trade-balance stability and the monetary theoretic foundation of the modern monetary approach to the balance of payments, as well as the diffusion of reserves and the money supply multiplier. Comprised of 17 chapters, this volume begins by providing a background to the development of Tsiang's thinking on monetary theory and why he objected to the Keynesian stock equilibrium approach to money. The reader is then introduced to speculation and income stability; misconceptions in monetary theory and their influences on financial and banking practices; and liquidity preference in general equilibrium analysis. Subsequent chapters deal with the optimum supply of money; the total inadequacy of "Keynesian" balance of payments theory; and the rationale of the mean-standard deviation analysis, skewness preference, and the demand for money. This book will be a useful resource for practitioners interested in economic theory, econometrics, and mathematical economics.
Open Economy Monetary Economics
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Author : M.L. Burnstein
language : en
Publisher: Springer
Release Date : 1989-06-18
Open Economy Monetary Economics written by M.L. Burnstein and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-06-18 with Business & Economics categories.
The financial markets have turned open-economy monetary economics on its head. This book explains the implications of these developments for theory and policy in the practices of the 1980s and 1990s, aiming to escape from the Keynsesian modes of thought and expression.
Keynes On Monetary Policy Finance And Uncertainty
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Author : Jörg Bibow
language : en
Publisher:
Release Date : 2005
Keynes On Monetary Policy Finance And Uncertainty written by Jörg Bibow and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Modern Theories Of Money
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Author : Louis-Philippe Rochon
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003-01-01
Modern Theories Of Money written by Louis-Philippe Rochon and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Business & Economics categories.
'This is a timely book. Being on modern theories of money - essentially the study of traditions of endogenous money - it is a welcome contribution to current thinking on monetary policy. The modern central bank view on money is that the rate of interest should be manipulated by central banks to achieve an inflation target with the money supply being the "residual". Although money is in effect endogenous, there is no theory that explains its behaviour. Modern Theories of Money is a serious attempt to sharpen existing views on the issue and fill gaps in an admirable manner.' - Philip Arestis, University of Cambridge, UK and Levy Economics Institute, US This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics.
Money Financial Institutions And Macroeconomics
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Author : Avi Cohen
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Money Financial Institutions And Macroeconomics written by Avi Cohen and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Money, Financial Institutions and Macroeconomics presents a comparative and international perspective on the current state of research in monetary theory, and the application of monetary theory to important policy issues. The main emphasis is on views stressing the importance of credit creation in the monetary process, in a tradition which arguably encompasses Wicksell, the later Swedes and the Austrians, through the later Hicks, the circuit school and contemporary post-Keynesians. In addition, however, there are distinguished contributions from economists with a more `mainstream' approach to the issues. The book is subdivided into four main parts: Part I reviews the theory of a monetary and credit economy; Part II explores alternative views on money and credit; Part III deals with monetary policy issues in North America; and Part IV discusses monetary policy issues in Europe. `Taken together, the contributions to this volume certainly bear out Hick's famous adage about the much closer relationship between `monetary theory' and `monetary history' than is the case in other branches of economic thought.'
A Handbook Of Alternative Monetary Economics
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Author : Philip Arestis
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006
A Handbook Of Alternative Monetary Economics written by Philip Arestis and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Consists of over 30 major contributions that explore a range of work on money and finance. The contributions in this handbook cover the origins and nature of money, detailed analyses of endogenous money, surveys of empirical work on endogenous money and the nature of monetary policy when money is endogenous.