On the endogeneity of Money supply: replica to Professor Nogueira da Costa

Fernando Cardim de Carvalho ()

Brazilian Journal of Political Economy, 1993, vol. 13, issue 3, 454-462

Abstract: This paper contains a critical examination of the concept of endogenous moneyproposed by Kaldor and Moore, and defended by Nogueira da Costa, sustaining the“horizontalist” approach to the determination of money supply. An alternative approach isoutlined, built upon Keynes’ views on money, emphasizing the nature of money as an assetin a monetary production economy and acknowledging some initiative on monetary matterson the part of the central bank. JEL Classification: E51; E12; B22.

Keywords: Money supply; post-Keynesianism; history of economic thought (search for similar items in EconPapers)
Date: 1993
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