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Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth
Wynne Godley,Marc Lavoie +1 more
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A Simple Model with Private Bank Money Time, Inventories, Profits and Pricing A model with PrivateBank Money, Inventions and Inflation A Model with both Inside and Outside Money A Growth Model Prototype Open Economy with Flexible Prices and Exchange Rates General Conclusion.Abstract:
Introduction Balance Sheets, Transaction Matrices and The Monetary Circuit The Simplest Model with Government Money Government Money with Portfolio Choice Long-Term Bonds, Capital Gains and Liquidity Preference Introducing the Open Economy A Simple Model with Private Bank Money Time, Inventories, Profits and Pricing A Model with PrivateBank Money, Inventories and Inflation A Model with both Inside and Outside Money A Growth Model Prototype Open Economy with Flexible Prices and Exchange Rates General Conclusionread more
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Journal ArticleDOI
Firms’ excess savings and the Dutch current-account surplus: a stock-flow consistent approach
TL;DR: In this article, a stock-flow consistent model of the firm is presented to explain firms' excess savings, inspired by Hein (2012), and embed that in an open economy model with a banking sector.
Journal Article
Keynesian prospects for the US economy
TL;DR: The macroeconomics developed by John Maynard Keynes and his close followers provide the only plausible set of answers, including rising income inequality which spilled over into debt accumulation at the same time as household consumption rose, low real interest rates, massive expansion of financial assets and liabilities as investors borrowed heavily (increased leverage) to buy assets with rising prices, and an ample supply of imports and capital inflows from the rest of the world.
Book ChapterDOI
Patterns in Financial Flows? A Longer-Term Perspective on Intersectoral Relationships
Daniele Fano,Giovanni Trovato +1 more
TL;DR: In this article, the authors analyze the cases of the USA and France since the early nineteen-fifties and look for discontinuities in the series, finding that in both countries the government sector produced a major break in the mid-seventies.
Posted Content
Argentina's (macroeconomic?) trap: Some insights from an empirical stock-flow consistent model
TL;DR: In this article, an empirical quarterly stock-flow consistent (SFC) model for the period 2007-19 was used to evaluate the economic performance of two divergent macroeconomic programs.
Journal ArticleDOI
Financeirização na abordagem Stock-Flow Consistent
TL;DR: In this paper, a trabalho e dedicado a analisar o esforco realizado for incorporar a financeirizacao in modelos macroeconomicos formais utilizando a abordagem Stock-Flow Consistent, buscando avaliar em que medida a abaddagem e capaz de representar formalmente a financeíacao, material como concebida pela literatura descritiva e empirica, and superar as deficiencias que as demais-
References
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Journal Article
The Cost of Capital, Corporation Finance and the Theory of Investment
TL;DR: In this article, the effect of financial structure on market valuations has been investigated and a theory of investment of the firm under conditions of uncertainty has been developed for the cost-of-capital problem.
Journal ArticleDOI
Are Government Bonds Net Wealth
TL;DR: In this article, the authors consider the effects of different types of intergenerational transfer schemes on the stock of public debt in the context of an overlapping-generations model and show that finite lives will not be relevant to the capitalization of future tax liabilities so long as current generations are connected to future generations by a chain of operative inter-generational transfers.
Journal ArticleDOI
The General Theory of Employment
TL;DR: In this paper, the theory of interest was restated and the output of capital goods and of consumption was analyzed in terms of uncertainty and fluctuations of investment, and demand and supply for output as a whole.
Book
Interest and Prices: Foundations of a Theory of Monetary Policy
TL;DR: Woodford as mentioned in this paper proposes a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets, arguing that effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing.
Book
Simple Heuristics That Make Us Smart
Gerd Gigerenzer,Peter M. Todd +1 more
TL;DR: Fast and frugal heuristics as discussed by the authors are simple rules for making decisions with realistic mental resources and can enable both living organisms and artificial systems to make smart choices, classifications, and predictions by employing bounded rationality.