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Money and Keynesian Uncertainty

Author

Listed:
  • Lucarelli, B.

Abstract

Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a laissez faire, deregulated financial system – induce phases of endemic financial instability and crises.

Suggested Citation

  • Lucarelli, B., 2010. "Money and Keynesian Uncertainty," MPRA Paper 28862, University Library of Munich, Germany, revised 10 Feb 2011.
  • Handle: RePEc:pra:mprapa:28862
    as

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    File URL: https://mpra.ub.uni-muenchen.de/28862/1/MPRA_paper_28862.pdf
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    References listed on IDEAS

    as
    1. Giuseppe Fontana, 2000. "Post Keynesians and Circuitists on Money and Uncertainty: An Attempt at Generality," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 23(1), pages 27-48, September.
    2. Giancarlo Bertocco, 2007. "The characteristics of a monetary economy: a Keynes--Schumpeter approach," Cambridge Journal of Economics, Oxford University Press, vol. 31(1), pages 101-122, January.
    3. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-115, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    uncertainty; money; liquidity preference; crisis; investment;

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • A10 - General Economics and Teaching - - General Economics - - - General

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