Some Simple, Consistent Models of the Monetary Circuit

Gennaro Zezza

Macroeconomics from EconWPA

Abstract: We address the finance motive and the determination of profits in the Monetary Theory of Production associated with the Circuitist School. We show that the “profit paradox” puzzle addressed by many authors who adopt this approach can be solved by integrating a simple Circuit model with a consistent set of stock-flow accounts. We then discuss how to reconcile some crucial differences between the Circuit approach and other Keynesian and post-Keynesian models.

Keywords: endogenous money; monetary circuit; determination of profits (search for similar items in EconPapers)
JEL-codes: E1 E12 E25 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mon
Date: 2004-05-07
Note: Type of Document - pdf; pages: 15
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http://129.3.20.41/eps/mac/papers/0405/0405006.pdf (application/pdf)

Related works:
Working Paper: Some Simple, Consistent Models of the Monetary Circuit (2004)
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpma:0405006

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