The purpose of this paper is to highlight the fact that the asymmetric information approach does not constitute the only theorical framework which gives provinence to the issue of firm financing; a meaningful theory could be elaborated on the basis of the works of Keynes and Schumpeter

The objective of this paper is to elaborate a monetary theory capable of supporting the thesis of money non-neutrality on the grounds of the arguments developed by Keynes and Schumpeter. This theory will be formulated starting from the two points which are common in the views of both Keynes and...

Mainstream economic theory underlines the close relation between saving decisions and credit supply: the saving decisions determine the credit supply and thus the investment flow carried out by all the firms. The objective of this paper is to highlight the theoretical limits of this causal...

This paper examines the explanation of the "subprime" crisis provided by Bernanke according to which the origin of the housing bubble stemmed from the global saving glut that occurred in the decade 1996-2006. The paper has two objectives. First, it highlights the limits of Bernanke's thesis....

The relation between uncertainty and money is the central point of the keynesian monetary theory. In general the keynesian economists consider uncertainty as the exogenous variable starting from which the functions of money can be defined. The presence of uncertainty justifies the store of...

The aim of the paper is to evaluate the importance of the endogenous money theory, and the criterion used is whether this theory enables us to elaborate on and to broaden the explanation of the non-neutrality of money formulated by Keynes in "The General Theory". The thesis upheld in this paper...

Keynes in the General Theory, explains the monetary nature of the interest rate by means of the liquidity preference theory. The objective of this paper is twofold. First, to point out the limits of the liquidity preference theory. Second, to present an explanation of the monetary nature of the...

This study surveys theoretical models providing alternative rationales for corporate hedging.