Financial Counterparts of Saving and Investment and Inconsistency in a Simple Macro Model

Victoria Chick

Chapter 4 in On Money, Method and Keynes, 1992, pp 81-94 from Palgrave Macmillan

Abstract: Abstract Financial assets play two roles in the economy. They provide wealth-holders with assets which relieve the saver of having to own and operate real capital, and they serve to transfer purchasing power from surplus- to deficit-spending decision units. Macroeconomic theory until recently has concentrated almost exclusively on the portfolio role of financial assets (including money), leaving implicit their role in financing expenditure.1

Keywords: Financial Asset; Decision Unit; Bond Market; Supply Function; Cash Holding (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-21935-3_4

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