Post Keynesian monetary economics

Stephen Rousseas

For the three decades that we have had monetary policy as we know it today, there have been two major schools of monetary thought - the neoclassical Keynesians and the monetarists. In this book Stephen Rousseas presents a critical overview of some of the central themes of Post Keynesian monetary economics. As Rousseas sees it, Post Keynesian monetary economics rejects the neoclassical and monetarist apporaches in large part by reversing the causal arrow of the quantity theory of money. The money supply is seen as a function of nominal income rather than the other way around; in other words, this is an endogenous theory of the money supply. Rousseas argues that the problem of financial innovations needs to be incorporated into the theory of an endogenous money supply - and he attempts to do this. Further, in a discussion of the policy implications of Post Keynesian monetary economics, he argues that an incomes policy by itself cannot be made to work without recourse to selective credit controls.

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  • Preface - Introduction - The Peculiarity of Money - The Demand for Money and the Rate of Interest - The Endogenous Money Supply - The Weintraub-Kaldor Models of Endogeneity - The Policy Implications of Post Keynesian Monetary Economics - Bibliography

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書名 Post Keynesian monetary economics
著作者等 Rousseas, Stephen William
Rousseas Stephen
出版元 Macmillan;M.E.Sharpe
刊行年月 c1986
ページ数 x, 126 p.
大きさ 23cm
ISBN 0333427491
NCID BA00602062
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言語 英語
出版国 イギリス