Financialization and the Monetary Circuit: A Macro-accounting Approach

This paper aims to cross-breed the standard monetary circuit accounting model with elements from the Post-Keynesian literature. The goals are: (i) to analyse the implications of credit-based household consumption fed by capital asset inflation for the soundness of a pure credit-money economy of production; and (ii) to provide a more sophisticated description of the working of modern financial systems than the one grounded in the usual 'bank-based vs. market based' distinction.

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Year of publication:	2014
Authors:	Passarella, Marco Veronese
Published in:	Review of Political Economy. - Taylor & Francis Journals, ISSN 0953-8259. - Vol. 26.2014, 1, p. 128-148
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010952200