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Loansable Funds, Endogenous Money, and Minsky's Financial Fragility Hypothesis

Author

Listed:
  • Lavoie, M

Abstract

This paper points out that the concept of an endogenous credit-money supply was endorsed by Keynesian and anti-Keynesian scholars alike, past as well as present. The main purpose of the present paper is to show that the origins of many aspects of Minsky's financial fragility hypothesis can be found in an earlier algebraic model of his based on the loanable funds theory.

Suggested Citation

  • Lavoie, M, 1995. "Loansable Funds, Endogenous Money, and Minsky's Financial Fragility Hypothesis," Working Papers 95011e, University of Ottawa, Department of Economics.
    • Handle: RePEc:ott:wpaper:95011e
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    Citations

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    Cited by:

    1. Eugenio Caverzasi, 2013. "The Missing Macro Link," Economics Working Paper Archive wp_753, Levy Economics Institute.
    2. Greg Hannsgen, 2005. "Minsky's acceleration channel and the role of money," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(3), pages 471-489.

    More about this item

    Keywords

    LOANS; CREDIT POLICY; MONEY SUPPLY; ECONOMIC MODELS;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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