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Macro Micro Model with a Post-Keynesian Perspective in the banking industry

  • Hyejin Cho

    ()

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS)

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.

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File URL: https://hal.archives-ouvertes.fr/hal-00994282v2/document
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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number hal-00994282.

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Date of creation: 22 May 2014
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Handle: RePEc:hal:cesptp:hal-00994282
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00994282v2
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  1. William Barnett & Robert Solow, 2004. "An Interview With Franco Modigliani," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200407, University of Kansas, Department of Economics, revised Jun 2004.
  2. Knapp, Georg Friedrich, 1924. "The State Theory of Money," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number knapp1924.
  3. Gary Gorton & Andrew Winton, 1995. "Bank Capital Regulation in General Equilibrium," NBER Working Papers 5244, National Bureau of Economic Research, Inc.
  4. Milton Friedman, 1971. "A Theoretical Framework for Monetary Analysis," NBER Books, National Bureau of Economic Research, Inc, number frie71-1, October.
  5. Jesper Jespersen, 2009. "Macroeconomic Methodology," Books, Edward Elgar, number 4109, March.
  6. Ayres, Robert U. & Warr, Benjamin, 2005. "Accounting for growth: the role of physical work," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 181-209, June.
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