A Handbook of Alternative Monetary Economics (Elgar Original by Philip Arestis PDF

By Philip Arestis

This significant new instruction manual involves over 30 contributions that discover the whole diversity of fascinating and engaging paintings on cash and finance, at present happening inside of heterodox economics. there are lots of issues and points of other financial and fiscal economics yet significant ones may be pointed out. the 1st issues the nature of cash: funds is credits created in the course of the economic climate in the method of mortgage production. the second one subject is that cash is endogenous and never exogenous. Contributions to the guide hide the origins and nature of cash, unique analyses of endogenous funds, surveys of empirical paintings on endogenous funds and the character of financial coverage while funds is endogenous. the second one topic makes a speciality of the economy, and the notion that it really is more often than not topic to volatility, instability and difficulty. This instruction manual will absolutely function the final word advisor to the complete spectrum of other financial economics. Philip Arestis and Malcolm Sawyer have played a useful job in compiling a entire instruction manual, written through major experts, that might be required analyzing through top point undergraduate and postgraduate scholars learning funds, finance and macroeconomics in addition to heterodox and financial economists extra more often than not.

Show description

Read Online or Download A Handbook of Alternative Monetary Economics (Elgar Original Reference) PDF

Similar money & monetary policy books

Download e-book for kindle: Keynes's Monetary Theory: A Different Interpretation by Allan H. Meltzer

During this rigorous learn of John Maynard Keynes's perspectives on financial thought and coverage from 1920-1946, Professor Meltzer argues that a few of Keynes's major principles were neglected or misstated. whereas awareness has fascinated with temporary countercyclical regulations, the most coverage implications were ignored.

Read e-book online The Money Problem: Rethinking Financial Regulation PDF

Years have handed because the international skilled one of many worst monetary crises in heritage, and whereas numerous specialists have analyzed it, many important questions stay unanswered. may still funds production be thought of a ‘public’ or ‘private’ activity—or either? What will we suggest through, and need from, monetary balance?

Extra info for A Handbook of Alternative Monetary Economics (Elgar Original Reference)

Sample text

1996), ‘Accommodationism versus structuralism: time for accommodation’, Journal of Post Keynesian Economics, 18(4), 585–94. Parguez, A. P. Rochon and M. Vernengo (eds), Credit, Interest Rates and the Open Economy: Essays on Horizontalism, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 69–103. Parguez, A. and Seccareccia, M. (2000), ‘The credit theory of money: the monetary circuit approach’, in J. , London: Routledge, pp. 101–23. Pivetti, M. (1988), ‘On the monetary explanation of distribution: a rejoinder to Nell and Wray’, Political Economy: Studies in the Surplus Approach, 4(2), 275–83.

Ferri (eds), Financial Fragility and Investment in the Capitalist Economy: The Economic Legacy of Hyman Minsky, Volume II, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 76–96. Lavoie, M. and Seccareccia, M. (eds) (2004), Central Banking in the Modern World: Alternative Perspectives, Cheltenham, UK and Northampton, MA, USA: Edward Elgar. Le Bourva, J. (1992), ‘Money creation and credit multipliers’, Review of Political Economy, 4(4), 447–66. M. (1988), ‘Can the Federal Reserve influence whether the money supply is endogenous?

22 Alternative monetary economics The weak exogeneity of the federal funds rate Still, in the USA there have been important fluctuations in the overnight rate, relative to the federal funds rate target. Similar deviations between the target rate and the actual overnight rate can be observed with the new European Central Bank. None the less, over recent years, the average federal funds rate is virtually equal to its average target rate. In view of these results, it is easier to understand why some American post-Keynesians are reluctant to recognize that reserves are fully endogenous and that interest rates are set exogenously by central banks.

Download PDF sample

Rated 4.73 of 5 – based on 31 votes