Some Simple, Consistent Models of the Monetary Circuit
Macroeconomics from University Library of Munich, Germany
We address the finance motive and the determination of profits in the Monetary Theory of Production associated with the Circuitist School. We show that the “profit paradox” puzzle addressed by many authors who adopt this approach can be solved by integrating a simple Circuit model with a consistent set of stock-flow accounts. We then discuss how to reconcile some crucial differences between the Circuit approach and other Keynesian and post-Keynesian models.
Keywords: endogenous money; monetary circuit; determination of profits (search for similar items in EconPapers)
JEL-codes: E1 E12 E25 (search for similar items in EconPapers)
Pages: 15 pages
New Economics Papers: this item is included in nep-mon
Note: Type of Document - pdf; pages: 15
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Working Paper: Some Simple, Consistent Models of the Monetary Circuit (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0405006
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