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Monetary economics : an integrated approach to credit, money, income, production and wealth

Author: Wynne Godley; M Lavoie
Publisher: Basingstoke [England] ; New York : Palgrave Macmillan, 2007.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This book challenges the mainstream paradigm, which is based on the inter-temporal optimisation of welfare by individual agents. It introduces a new methodology for studying how it is institutions (firms, banks, governments, foreigners and households) which create flows of income, expenditure and production together with stocks of assets (including money) and liabilities, thereby determining how whole economies  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Godley, Wynne.
Monetary economics.
Basingstoke [England] ; New York : Palgrave Macmillan, 2007
(DLC) 2006049315
(OCoLC)70708099
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Wynne Godley; M Lavoie
ISBN: 9780230626546 0230626548 9781349352746 1349352748
OCLC Number: 153745349
Description: 1 online resource (xliii, 530 pages) : illustrations
Contents: 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 private bank money, inventories and inflation --
A model with both inside and outside money --
A growth model prototype --
A more advanced open economy model --
General conclusion.
Responsibility: Wynne Godley and Marc Lavoie.
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Abstract:

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create  Read more...

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'The framework that Godley and Lavoie develop, with a consistent numerical and simulational handle on the various models, is a return to a majestic Wicksellian tradition A whole generation of Read more...

 
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