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1991
It was uncharacteristic of Nicholas Kaldor to take an ambiguous stand on any issue, but in the above it is not clear where he stood on the question of the endogeneity or the exogeneity of money, or whether he believed it to be of importance. In his later writings on money he viewed the attempt to control the path of nominal aggregate demand by ...
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It was uncharacteristic of Nicholas Kaldor to take an ambiguous stand on any issue, but in the above it is not clear where he stood on the question of the endogeneity or the exogeneity of money, or whether he believed it to be of importance. In his later writings on money he viewed the attempt to control the path of nominal aggregate demand by ...
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2019
The capitalist economy is a money economy. But how is money created and destroyed? Is it exogenous, a limited resource like gold, or is it endogenous, emerging from processes of production and distribution? How is credit generated and what is the relationship between credit and savings?
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The capitalist economy is a money economy. But how is money created and destroyed? Is it exogenous, a limited resource like gold, or is it endogenous, emerging from processes of production and distribution? How is credit generated and what is the relationship between credit and savings?
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Économie appliquée, 1988
Money supply exogeneity is a theoretical abstraction which has governed the content and significance of orthodox monetary theory. This article explores the various possible senses of exogeneity and endogeneity in this context, and elaborates on a use of the concepts which is more suitable for policy purposes.
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Money supply exogeneity is a theoretical abstraction which has governed the content and significance of orthodox monetary theory. This article explores the various possible senses of exogeneity and endogeneity in this context, and elaborates on a use of the concepts which is more suitable for policy purposes.
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Journal of Post Keynesian Economics, 1979
The banking system has no direct control over the prices of individual commodities or over the rates of money earnings of the factors of production. Nor has it, in reality, any direct control over the quantity of money; for it is a characteristic of modern systems that the central bank is ready to buy for money at a stipulated rate of discount any ...
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The banking system has no direct control over the prices of individual commodities or over the rates of money earnings of the factors of production. Nor has it, in reality, any direct control over the quantity of money; for it is a characteristic of modern systems that the central bank is ready to buy for money at a stipulated rate of discount any ...
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Routes of money endogeneity: a heuristic comparison [PDF]
Cambridge Journal of Economics, 2010 The paper sets up an analytical framework that is based on simplified balance sheets of the banking, the non-banking private and the government sectors, in order to identify four primary routes through which money can be generated endogenously and to discuss their characteristics.
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Journal of Post Keynesian Economics, 1988
(1988). The Endogenous Money Supply. Journal of Post Keynesian Economics: Vol. 10, No. 3, pp. 372-385.
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(1988). The Endogenous Money Supply. Journal of Post Keynesian Economics: Vol. 10, No. 3, pp. 372-385.
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2014
In neoclassical theory, money is an exogenous variable: Money is neutral, merely determining nominal prices; and the supply of money is controlled by the central bank. This paper delineates how Post Keynesians offer a clear alternative to the neoclassical approach.
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In neoclassical theory, money is an exogenous variable: Money is neutral, merely determining nominal prices; and the supply of money is controlled by the central bank. This paper delineates how Post Keynesians offer a clear alternative to the neoclassical approach.
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Keynes and the endogeneity of money
Review of Keynesian Economics, 2013A common feature of practically all strands of post-Keynesian theory is the notion that the money supply should not be considered as fixed independently of money demand in macroeconomic models. There are, however, at least two ways to postulate money endogeneity. The first, and perhaps best known today, is Kaldor's version, where the money supply curve
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The Demand for Endogenous Money
Journal of Post Keynesian Economics, 1995(1995). The Demand for Endogenous Money. Journal of Post Keynesian Economics: Vol. 18, No. 1, pp. 89-106.
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Hume and Endogenous Money [PDF]
Eastern Economic Journal, 2006 David Hume’s monetary theory has three standard yet inconsistent readings. As a forefather of the quantity theory of money, Hume sees money as neutral. As an inflationist, Hume sees an active positive role for monetary policy. As a monetarist, Hume sees an active positive role for monetary policy only in the short run.
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