Money, Distribution Conflict and Capital Accumulation: Contributions to 'Monetary Analysis'This book demonstrates that 'monetary analysis', as contained in Post-Keynesian monetary theories, but also in the Neo-Ricardian monetary theory of distribution and in Marx's monetary analysis, can be integrated into Post-Keynesian models of distribution of growth in a convincing way. |
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Page 4
... hence to the research programme of a 'monetary theory of production'. The focus is on the short-run and, in particular, on the long-run effects of monetary policies applying the interest rate tool in modern credit money economies, which ...
... hence to the research programme of a 'monetary theory of production'. The focus is on the short-run and, in particular, on the long-run effects of monetary policies applying the interest rate tool in modern credit money economies, which ...
Page 5
... hence distribution between firms, rentiers' and workers' households, but not the inflation rate. In the third part of the book we will then take into account the inflationary consequences of distribution conflict and monetary policy ...
... hence distribution between firms, rentiers' and workers' households, but not the inflation rate. In the third part of the book we will then take into account the inflationary consequences of distribution conflict and monetary policy ...
Page 13
... hence between a money circuit and a credit circuit. Whereas 'paper money' issued by the state can exceed the amount required for circulation and hence affect the price level, for bank notes the 'law of reflux' applies: Bank notes return ...
... hence between a money circuit and a credit circuit. Whereas 'paper money' issued by the state can exceed the amount required for circulation and hence affect the price level, for bank notes the 'law of reflux' applies: Bank notes return ...
Page 18
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Contents
xiii | |
3 | |
6 | |
Interest Rate Distribution and Capital Accumulation PostKeynesian Models | 59 |
Distribution Conflict Inflation and Monetary Policy in a Credit Economy | 128 |
Notes | 177 |
References | 189 |
Index | 210 |
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Common terms and phrases
adjustment amount applying approach associated assumed becomes capacity utilization capital accumulation capital stock capitalist cause central bank changes chapter circuit Classical commercial banks commodity considered constant costs curve debt debt–capital ratio decisions demand depends determined developed discussed distribution and growth economy effective demand effects employment endogenous equation equilibrium expectations extended falling finance firms follows function funds GERCU GERE given hence hold households income increasing inflation inflation rates initial internal investment Kalecki Kaleckian models Keynesian labour Lavoie liquidity long-run long-run equilibrium long-term mark-up Marx Marx’s means monetary theory NAIRU negative nominal normal output payment positive Post-Keynesian production profit share propensity quantity rate of capacity rate of interest rate of profit real interest rates relation rentiers requires respect retained rising risk saving sector short short-run SIRCU SIRE stable supply tion variable