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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)

Abstract: 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)
Pages: 25
Date: 2020-02
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
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