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Alternativní postkeynesovské modely determinace peněžní zásoby
[Alternative post-keynesian models of money supply determination]


  • Aleš Krejdl


This article presents three competing models of money supply determination as derived in Palley (1996). Two of the models can be considered post-keynesian in nature and identified with accommodationist and structuralist approach to money endogeneity. Post-keynesian models are contrasted with orthodox money multiplier model. Presentation of the models enables not only to derive hypothesis for empirical testing but also to compare the two post-keynesian models. The accommodationist and structuralist models are not viewed as mutually inconsistent but rather as complements. Scope for potential synthesis and future research is indicated.

Suggested Citation

  • Aleš Krejdl, 2003. "Alternativní postkeynesovské modely determinace peněžní zásoby
    [Alternative post-keynesian models of money supply determination]
    ," Politická ekonomie, University of Economics, Prague, vol. 2003(2).
  • Handle: RePEc:prg:jnlpol:v:2003:y:2003:i:2:id:404

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    References listed on IDEAS

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    More about this item


    post-Keynesianism; money endogeneity; money supply determination; credit demand and credit supply;

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • 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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