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Interrelated Bank Strategies, Financial Fragility And Credit Expansion: A Post Keynesian Approach

  • Antonio J. Alves Jr.
  • Gary A. Dymski
  • Luiz Fernando de Paula

This paper aims at clarifying the relationship between individual bank and banking industry behavior in credit expansion. We argue that the balance sheet structure of an individual bank is only partially determined by its management decision about how aggressively to expand credit; it is also determined by the balance sheet positions of other banks. This relationship is explicitly shown by a disaggregation of the variable that enters into the simple money multiplier. The approach developed here opens a way to integrating the micro and macro levels in a Keynesian banking-system analysis.

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Paper provided by ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics] in its series Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] with number 077.

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Date of creation: 2004
Date of revision:
Handle: RePEc:anp:en2004:077
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  1. Gary A. Dymski, 1988. "A Keynesian Theory of Bank Behavior," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 10(4), pages 499-526, July.
  2. L. R. Wray, 1990. "Money and Credit in Capitalist Economies," Books, Edward Elgar, number 474, April.
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