A POST-KEYNESIAN STOCK-FLOW CONSISTENT MODEL FOR DYNAMIC ANALYSIS OF MONETARY POLICY SHOCK ON BANKING BEHAVIOUR

Autor: Tarik Mouakil, Edwin Le Héron
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:
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