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Sullo statuto teorico dell'offerta di moneta: un dibattito con Augusto Graziani
[On the theoretic status of the supply of money: a debate with Augusto Graziani]

Author

Listed:
  • Cavalieri, Duccio

Abstract

In this article the debate between Prof. Augusto Graziani and the author on the monetary theory of production is carried further on. The main purpose of the paper is to delineate - along Keynesian lines and in opposition to the theory of the credit money circuit - a consistent and realistic view of the nature of the supply of money, general enough to embrace as limit-cases both a strictly endogenous and a strictly exogenous money supply. The interdependence of the supply and demand for money is explicitely recognized, as well as the central bank ability to control in the short term either the money supply or its supply price.

Suggested Citation

  • Cavalieri, Duccio, 1996. "Sullo statuto teorico dell'offerta di moneta: un dibattito con Augusto Graziani [On the theoretic status of the supply of money: a debate with Augusto Graziani]," MPRA Paper 43888, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:43888
    as

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    File URL: https://mpra.ub.uni-muenchen.de/43888/1/MPRA_paper_43888.pdf
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    References listed on IDEAS

    as
    1. Basil J. Moore, 1988. "The Endogenous Money Supply," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 10(3), pages 372-385, March.
    2. Basil J. Moore, 1989. "On the Endogeneity of Money Once More," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 11(3), pages 479-487, March.
    3. Moore, Basil J, 1988. "The Endogeneity of Money: A Comment," Scottish Journal of Political Economy, Scottish Economic Society, vol. 35(3), pages 291-294, August.
    4. Cavalieri, Duccio, 1994. "La teoria monetaria di Keynes e i teorici del circuito: a proposito di un libro di Augusto Graziani," MPRA Paper 43887, University Library of Munich, Germany.
    5. Paul Davidson, 1989. "On the Endogeneity of Money Once More," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 11(3), pages 488-490, March.
    6. Davidson, Paul & Weintraub, Sidney, 1973. "Money as Cause and Effect," Economic Journal, Royal Economic Society, vol. 83(332), pages 1117-1132, December.
    7. Stephen Rousseas, 1989. "On the Endogeneity of Money Once More," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 11(3), pages 474-478, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Duccio Cavalieri, 2004. "On Some Equilibrium and Disequilibrium Theories of Endogenous Money: A Structuralist View," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 12(3), pages 51-83.
    2. cavalieri, duccio, 2003. "On the closure of the monetary circuit," MPRA Paper 43836, University Library of Munich, Germany.
    3. Cavalieri, Duccio, 1999. "Il circuito della moneta e il finanziamento dell'economia. Un'analisi teorica [Monetary circuit and economy financing: a theoretical analysis]," MPRA Paper 43895, University Library of Munich, Germany.
    4. Cavalieri, Duccio, 2006. "The difficult task of integrating money in the theory of production," MPRA Paper 44097, University Library of Munich, Germany.

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    More about this item

    Keywords

    money supply; Keynes; Graziani; monetary theory;
    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
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money

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