Macro Micro Model with a Post-Keynesian Perspective in the banking industry
This 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.
|Date of creation:||22 May 2014|
|Publication status:|| Published in The Third Nordic Post-keynesian Conference, May 2014, aalborg, Denmark. |
|Note:||View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00994282v2|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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