Liquidity preference, capital accumulation and investment financing: Fernando Carvalho’s contributions to the Post-Keynesian paradigm
José Luís Oreiro (),
Luiz Fernando de Paula and
João Pedro Heringer Machado
No PKWP2007, Working Papers from Post Keynesian Economics Society (PKES)
This paper assesses the main theoretical contributions by Fernando Cardim de Carvalho to the Post-Keynesian Economics Paradigm: his elucidation of the fundamental principles that define the concept of a monetary production economy; his analysis of decision-making under non-probabilistic uncertainty; his development of a portfolio choice theory in which the decision to invest is regarded as one of possible wealth accumulation strategies; his liquidity preference theory, including its application to banks’ portfolio allocations under uncertainty; and finally his analysis of the finance-funding circuit and its implications for the functioning of monetary economies.
Keywords: Post-Keynesian theory; Keynes; monetary economics (search for similar items in EconPapers)
JEL-codes: B59 E12 E44 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
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