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. Graziani's interpretation of the historical development of Keynes' monetary thought. …In this article the Author reviews a recent book by Prof. Augusto Graziani on the monetary theory of production. It is … controversial picture of Keynes' views on the working of a monetary economy. The paper has a twofold purpose, as it is intended to …
Persistent link: https://www.econbiz.de/10015235405
In the introductory chapter a novel economic policy is proposed which consists of a) 'virtualizing' debt (putting it on the Central Bank balance sheet) and b) reduce the money-multiplier by an implementation of a strong minimum reserving policy. The main part shows exposes a flaw in the concept...
Persistent link: https://www.econbiz.de/10015227759
This paper is intended to be a contribution to a historico-critical analysis of some recent theories of endogenous money supply. Not a systematic survey of the literature on the subject. It is mainly concerned with the internal consistency of the „circuit. theories developed in the 1980.s and...
Persistent link: https://www.econbiz.de/10015235318
This paper is intended to be a contribution to a historico-critical analysis of some recent theories of endogenous money supply. Not a systematic survey of the literature on the subject. It is mainly concerned with the internal consistency of the „circuit. theories developed in the 1980.s and...
Persistent link: https://www.econbiz.de/10015235338
This paper addresses the perspective of Hayek’s doctrine on monetary arrangements in the economy and his favorable argument for an international central bank over national central bank. I also discussed Hayek’s view on free banking (i.e. for the free issue of bank notes) that would enable...
Persistent link: https://www.econbiz.de/10015232866
In this article the debate between Prof. Augusto Graziani and the author on the monetary theory of production is …
Persistent link: https://www.econbiz.de/10015235406
This is a theoretical analysis of the role of money and other less liquid financial assets in the financing of the private sector of a market economy. It is concerned, basically, with the functional relations between households, firms, banks and other financial institutions, and with those...
Persistent link: https://www.econbiz.de/10015235412
cash-balance approach, Walras’ „encaisse désirée“, Keynes’ liquidity preference to the monetarist restatement of the …
Persistent link: https://www.econbiz.de/10015242958
In this paper, we analyze the process of money creation in a credit economy. We start from the consideration that the traditional money multiplier is a poor description of this process and present an alternative and dynamic approach that takes into account the heterogeneity of agents in the...
Persistent link: https://www.econbiz.de/10015219589
This paper derives the user cost of monetary assets and credit card services with interest rate risk under the assumption of intertemporal non-separability. Barnett and Su (2016) derived theory permitting inclusion of credit card transaction services into Divisia monetary aggregates. The risk...
Persistent link: https://www.econbiz.de/10015257510