Showing 1 - 10 of 24
Two agendas of the heterodox economics programme; the stock-flow consistent models pioneered by Wynne Godley, and the monetary circuit approach researched in France and Italy are discussed. The objective is to present a coherent account of two innovations in payments mechanisms: deposit-creating...
Persistent link: https://www.econbiz.de/10005528199
Low-denomination coins are ceasing to be accepted as a medium of exchange in India, according to Romar Correa.
Persistent link: https://www.econbiz.de/10005459254
Keynes was a member of the Bloomsbury group, a group that took its credo in some measure from the philosophy of G.E. Moore. However Keynes was unable to follow through the implications of this early influence into his economics cumbered as he was with his ‘Marshallian baggage’....
Persistent link: https://www.econbiz.de/10011137836
The relationship between organizations and environment is examined within the context of General Systems Theory. It is argued that the policy problem confronting the modern organization is to cope with environmental turbulence. Three modes of coping with fundamental uncertainty are identified....
Persistent link: https://www.econbiz.de/10011097435
Persistent link: https://www.econbiz.de/10011097447
Exegetical study of the economics of Hayek and Keynes are active research industries in the form of the neo-Austrian and Post-Keynesian research programmes respectively. Often it would appear that these efforts would benefit from an underlying methodological orientation. It is our argument that...
Persistent link: https://www.econbiz.de/10011095329
The distinction between costs and prices aggregates into the conflict between wages and profits in a macro-accounting framework. We exploit the Godley and Lavoie (2007) framework to derive a dynamical system in the variables. Deflation in at least one price is both necessary and sufficient for...
Persistent link: https://www.econbiz.de/10010890581
We appraise the canonical Robertson­Keynes discussion from the structural axis of exogeneity/endogeneity of the interest rate. The interest rate is shown to be an exogenous variable. It is only with Keynes’ contribution of liquidity preference and, specifically, the introduction of the...
Persistent link: https://www.econbiz.de/10010885973
We propose a simple framework within which to examine the problem of policy coordination between two central banks. The context is the various components of a broad measure of the money supply. Consider two central banks, one'monetarist' and the other 'Keynesian'. In each economy there is...
Persistent link: https://www.econbiz.de/10010840707
We model the interaction between capitalists and entrepreneurs as a dynamic game. The open-loop Nash equilibrium and the closed-loop Nash equilibrium are distinguished. The elasticity of intertemporal substitution as well as the level and responsiveness of the wage rate to the accumulation of...
Persistent link: https://www.econbiz.de/10010956035