Routes of money endogeneity: a heuristic comparison

Man-Seop Park

Cambridge Journal of Economics, 2011, vol. 35, issue 4, 685-704

Abstract: The paper sets up an analytical framework that is based on simplified balance sheets of the banking, the non-banking private and the government sectors, in order to identify four primary routes through which money can be generated endogenously and to discuss their characteristics. These routes approximate, if not precisely correspond to, the post-Keynesian accommodationist and structuralist views, the New Keynesian credit view ('bank lending channel'), and a hybrid one, respectively. Copyright The Author 2010. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.

Date: 2011
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