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On the endogeneity of Money supply: replica to Professor Nogueira da Costa

Author

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  • Fernando Cardim de Carvalho

Abstract

This paper contains a critical examination of the concept of endogenous moneyproposed by Kaldor and Moore, and defended by Nogueira da Costa, sustaining the“horizontalist” approach to the determination of money supply. An alternative approach isoutlined, built upon Keynes’ views on money, emphasizing the nature of money as an assetin a monetary production economy and acknowledging some initiative on monetary matterson the part of the central bank. JEL Classification: E51; E12; B22.

Suggested Citation

  • Fernando Cardim de Carvalho, 1993. "On the endogeneity of Money supply: replica to Professor Nogueira da Costa," Brazilian Journal of Political Economy, Center of Political Economy, vol. 13(3), pages 454-462.
    • Handle: RePEc:ekm:repojs:v:13:y:1993:i:3:p:454-462:id:1338
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1338/1324
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    More about this item

    Keywords

    Money supply; post-Keynesianism; history of economic thought;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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