A POST-KEYNESIAN STOCK-FLOW CONSISTENT MODEL FOR DYNAMIC ANALYSIS OF MONETARY POLICY SHOCK ON BANKING BEHAVIOUR
Autor: | Tarik Mouakil, Edwin Le Héron |
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Přispěvatelé: | Science Politique Relations Internationales Territoire (SPIRIT), Université Montesquieu - Bordeaux 4-Institut d'Études Politiques [IEP] - Bordeaux-Centre National de la Recherche Scientifique (CNRS) |
Rok vydání: | 2008 |
Předmět: |
Economics and Econometrics
050208 finance Monetarism Inflation targeting Politics 05 social sciences Money supply Monetary policy monetary policy stock-flow Monetary economics [SHS.ECO]Humanities and Social Sciences/Economics and Finance Monetary hegemony banks [SHS.SCIPO]Humanities and Social Sciences/Political science Credit channel Power 0502 economics and business Finacial policy Economics Divisia monetary aggregates index 050207 economics Monetary base ComputingMilieux_MISCELLANEOUS Organization |
Zdroj: | Metroeconomica Metroeconomica, Wiley, 2008, 59 (3), pp.405-440. ⟨10.1111/j.1467-999X.2008.00313.x⟩ |
ISSN: | 1467-999X 0026-1386 |
DOI: | 10.1111/j.1467-999x.2008.00313.x |
Popis: | We try to make Keynes' approach compatible with an endogenous theory of the money supply. For that purpose, the principle of liquidity preference is generalized within a competitive banking framework. Private banks can impose a monetary rationing independently of the central bank. Then, we analyse the consequences of a monetary policy shock on the financial behaviour of banks. We clarify the dynamic process between the monetary policy and net investment within a Minskyan approach. First, we build a Post-Keynesian stock-flow consistent model with a private-bank sector introducing more realistic features. Second, we perform some simulations. |
Databáze: | OpenAIRE |
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