Macro Micro Model with a Post-Keynesian Perspective in the banking industry

Hyejin Cho ()
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Hyejin Cho: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This article introduces the cascaded individual model of Post-keynesian economics. This differs from the representative agent model of the old-keynesian model mathematically and methodologically. The model builds from five assumptions containing original concepts: cascaded individuals, a social planner vs a regulator, aggregate deposits (stock) vs pyroclastic deposits (flow). Mainly, this Macro-Micro approach of Post-keynesian concepts suggests the regulation of the money flow. Then, this paper articulates fundamental concepts to solve problems of a sudden "micro" financial shock in the short run with the long run "macro" stabilization with a balanced perspective between macroeconomics and microeconomics.

Keywords: moral hazard problem; regulator; social planner; macro micro model; Post-keynesian; banking industry; general equilibrium; endogenous money creation; representative agents; cascaded individuals; aggregate deposits; pyroclastic deposits (search for similar items in EconPapers)
Date: 2014-05-22
New Economics Papers: this item is included in nep-mac and nep-pke
Note: View the original document on HAL open archive server: https://hal.science/hal-00994282v2
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Published in The Third Nordic Post-keynesian Conference, jesper jespersen; Mogens Ove Madsen; Finn Olesen, May 2014, aalborg, Denmark

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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:hal-00994282

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