It is not la vie en rose: new insights from Graziani’s theory of the monetary circuit

نویسندگان

چکیده

The aim of this paper is twofold. First, it shows how a standard stock–flow consistent model (SFCM) can be modified to embed some fundamental insights from Graziani’s theory the monetary circuit (TMC). Second, aims address common misconceptions about TMC. More precisely, argued that: (a) market-clearing price mechanism does not necessarily imply neoclassical-like closure model; (b) ways in which SFCMs and TMC define bank loans are mutually consistent, although they based on different accounting periods; (c) consumer credit final finance, initial finance; (d) paradox profit logical conundrum, but an abstract counter-factual that allows shedding light neglected role government spending; (e) overall, regarded as ‘Marxian’ rendition Keynes’s method aggregates.

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

A Neo-Keynedan Vie~ of Monetary Policy

Those of us who take an essentially Keynesian view in macroeconomics are often accused, somewhat unjustly, I believe, of minimizing the importance of monetary forces. That contention was probably true 20 years ago for a variety of historical and institutional reasons. But much water has passed over the dam since that time, and I believe it would now be difficult to find an example of the popula...

متن کامل

It is an organ, it is new, but it is not a new organ. Conceptualizing language from a homological perspective

It is a widely shared opinion among specialists that language is an evolutionary innovation, or that it contains some key evolutionary innovations. However, such claims are not based on a correspondingly consensual concept of “evolutionary innovation,” but are rather expressed on atheoretical grounds. This fact has thus far acted as an obstacle for the collaborative effort upon which the task o...

متن کامل

the analysis of the role of the speech acts theory in translating and dubbing hollywood films

از محوری ترین اثراتی که یک فیلم سینمایی ایجاد می کند دیالوگ هایی است که هنرپیش گان فیلم میگویند. به زعم یک فیلم ساز, یک شیوه متأثر نمودن مخاطب از اثر منظوره نیروی گفتارهای گوینده, مثل نیروی عاطفی, ترس آور, غم انگیز, هیجان انگیز و غیره, است. این مطالعه به بررسی این مسأله مبادرت کرده است که آیا نیروی فراگفتاری هنرپیش گان به مثابه ی اعمال گفتاری در پنج فیلم هالیوودی در نسخه های دوبله شده باز تولید...

15 صفحه اول

Classical Mechanics Is Lagrangian; It Is Not Hamiltonian; The Semantics of Physical Theory Is Not Semantical

One can (for the most part) formulate a model of a classical system in either the Lagrangian or the Hamiltonian framework. Though it is often thought that those two formulations are equivalent in all important ways, this is not true: the underlying geometrical structures one uses to formulate each theory are not isomorphic. This raises the question whether one of the two is a more natural frame...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: European Journal of Economics and Economic Policies: Intervention

سال: 2022

ISSN: ['2052-7772', '2052-7764']

DOI: https://doi.org/10.4337/ejeep.2022.0084