Financialization and the Monetary Circuit: A Macro-accounting Approach

Marco Veronese Passarella

Review of Political Economy, 2014, vol. 26, issue 1, 128-148

Abstract: This paper aims to cross-breed the standard monetary circuit accounting model with elements from the Post-Keynesian literature. The goals are: (i) to analyse the implications of credit-based household consumption fed by capital asset inflation for the soundness of a pure credit-money economy of production; and (ii) to provide a more sophisticated description of the working of modern financial systems than the one grounded in the usual 'bank-based vs. market based' distinction.

Date: 2014
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Citations: View citations in EconPapers (6)

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DOI: 10.1080/09538259.2013.874195

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