IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-01343654.html
   My bibliography  Save this paper

Post-Keynesian monetary economics – Godley like

Author

Listed:
  • Marc Lavoie

    (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique, University of Ottawa [Ottawa])

Abstract

Endogenous money is a key feature of post-Keynesian monetary economics and of monetary circuit theory. This chapter highlights the contributions and the evolution of Wynne Godley’s views on money, as they have evolved toward what Godley first called the real stock flow monetary model, which later became known as the stock-flow coherent model, showing that his views encompass post-Keynesian economics and monetary circuit theory. The chapter first recapitulates what it considers to be the main features of post-Keynesian monetary analysis. It then presents the work of Godley and his efforts to develop a systemic understanding of an economy and how money comes about. It also considers the role of banks and how they achieve their portfolio objectives. Finally, it explores how these stock-flow coherent principles fit in the context of an open economy and discusses some implications of the subprime financial crisis for monetary theory.

Suggested Citation

  • Marc Lavoie, 2013. "Post-Keynesian monetary economics – Godley like," Post-Print hal-01343654, HAL.
  • Handle: RePEc:hal:journl:hal-01343654
    DOI: 10.1093/oxfordhb/9780195390766.013.0011
    Note: View the original document on HAL open archive server: https://hal-univ-paris13.archives-ouvertes.fr/hal-01343654
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    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:hal:journl:hal-01343654. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.