Kalecki-Minsky-monetary circuit complexity

Romar Correa

Bulletin of Political Economy, 2023, vol. 17, issue 2, 177-194

Abstract: We work through a connection between commodity production and money. The former is drawn from the theories of investment of Michal Kalecki and Hyman Minsky. The latter is motivated by the theory of the monetary circuit translated in the framework of Wynne Godley and Francis Cripps (1983). We set up and solve a mixed differential-difference equation in the manner of Giancarlo Gandolfo (1971). Complexity is defined as the potential emergence of surprise in the combination of two parameters in the solutions of the equation, one for money and one for the real economy

Keywords: bank money; investment lags; bifurcations (search for similar items in EconPapers)
JEL-codes: C62 E11 E12 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://serialsjournals.com/abstract/89974_3-bope2023correathird_paper.pdf (application/pdf)
https://www.bulletinofpe.com/romar-correa-20232 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:awu:journl:v:17:y:2023:i:2:p:177-194

Access Statistics for this article

More articles in Bulletin of Political Economy from Bulletin of Political Economy
Bibliographic data for series maintained by Maria Cristina Barbieri Goes ().