Open AccessBook
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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Balance Sheet Effects of a Currency Devaluation: A Stock-Flow Consistent Framework for Mexico?
TL;DR: In this article, the authors empirically and theoretically analyzes the exchange rate's role in Mexico's development for the period 2004-19, and test the hypothesis of the re-emergence of the balance sheet effect due to an increase in external debt in the non-financial corporate sector; higher foreign debt would affect private investment after episodes of real currency depreciation, in the spirit of the literature put forward by Gertler, Gilchrist, and Natalucci (2007) and CA©spedes, Chang, and Velasco (2004).
Journal ArticleDOI
Cost Inflation and Price Inflation
TL;DR: In this article, the distinction between costs and prices aggregates into the conflict between wages and profits in a macro-accounting framework, and a dynamical system in the variables is derived.
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Breaking the Circular Flow: A Dynamic Programming Approach to Schumpeter
TL;DR: In this paper, the authors consider the effect of an innovation in the means of production in a Robinson Crusoe economy, then adding in sequence one, then many random variables, and then consider a many-agent economy that utilizes money.
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.