IDEAS home Printed from https://ideas.repec.org/a/elg/rokejn/v4y2016i2p224-228.html
   My bibliography  Save this article

A Kalecki fable on debt and the monetary transmission mechanism

Author

Listed:
  • Jan Toporowski

    (School of Oriental and African Studies, University of London, UK)

Abstract

Kalecki explained debt resolution by means of a fable about monetary circulation between mutually indebted individuals. This note explains the context and some of the theoretical implications of the fable. These point to an asymmetry in monetary policy in which excessively tight monetary policy may restrict economic activity and force the resort to informal debt.

Suggested Citation

  • Jan Toporowski, 2016. "A Kalecki fable on debt and the monetary transmission mechanism," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(2), pages 224-228, April.
    • Handle: RePEc:elg:rokejn:v:4:y:2016:i:2:p224-228
    as

    Download full text from publisher

    File URL: http://www.elgaronline.com/abstract/journals/roke/4-2/roke.2016.02.08.xml
    Download Restriction: Restricted access
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Kalecki; Keynes; monetary policy; debt;
    All these keywords.

    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:rokejn:v:4:y:2016:i:2:p224-228. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Phillip Thompson (email available below). General contact details of provider: http://www.elgaronline.com/roke .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.