Macro Micro Model with a Post-keynesian Perspective in the banking industry
AbstractThis article introduces the cascaded individual model of Post-keynesian economics. This differs from the representative agent model of the old-keynesian model mathematically and methodologically. The model builds from five assumptions containing original concepts: cascaded individuals, a social planner vs a regulator, aggregate deposits (stock) vs pyroclastic deposits (flow). Mainly, this Macro-Micro approach of Post-keynesian concepts suggests the regulation of the money flow. Then, this paper articulates fundamental concepts to solve problems of a sudden "micro" financial shock in the short run with the long run "macro" stabilization with a balanced perspective between macroeconomics and microeconomics.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 56119.
Date of creation: 22 May 2014
Date of revision:
macro micro model; Post-keynesian; banking industy; general equilibrium; endogenous money creation; representative agents; cascaded individuals; aggregate deposits; pyroclastic deposits; social planner; regulator; moral hazard problem;
Other versions of this item:
- Hyejin Cho, 2014. "Macro Micro Model with a Post-Keynesian Perspective in the banking industry," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) hal-00994282, HAL.
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- G0 - Financial Economics - - General
- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-05-24 (All new papers)
- NEP-MAC-2014-05-24 (Macroeconomics)
- NEP-PKE-2014-05-24 (Post Keynesian Economics)
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