An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model
The work attempts to integrate the growth models by authors such as Kalecki, Harrod, Robinson and Kaldor, together with an introduction on monetary aspects, based on the endogenous money supply theory. A short-run income determination model is presented and then extended to a long-run model without...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2013-10-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10572 |
| _version_ | 1811172435190349824 |
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| author | K. WATANABE |
| author_facet | K. WATANABE |
| author_sort | K. WATANABE |
| collection | DOAJ |
| description | The work attempts to integrate the growth models by authors such as Kalecki, Harrod, Robinson and Kaldor, together with an introduction on monetary aspects, based on the endogenous money supply theory. A short-run income determination model is presented and then extended to a long-run model without assuming full employment. The steady growth rate is then investigated before dynamic aspects of the model are studied and fiscal and monetary policies are examined within a dynamic growth process. Phase diagrams for growth models are employed to to offer an explanation for the effects of short-run demand-control policies. The most important difference from previous works is the explicit introduction of a financial sector functioning as an inflation barrier.
JEL Codes: E12
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| first_indexed | 2024-04-10T17:31:05Z |
| format | Article |
| id | doaj.art-28b0bee821ea4025b3727ab1d2ca6d18 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:31:05Z |
| publishDate | 2013-10-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-28b0bee821ea4025b3727ab1d2ca6d182023-02-03T16:46:18ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432013-10-015020010.13133/2037-3643/10572An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth modelK. WATANABEThe work attempts to integrate the growth models by authors such as Kalecki, Harrod, Robinson and Kaldor, together with an introduction on monetary aspects, based on the endogenous money supply theory. A short-run income determination model is presented and then extended to a long-run model without assuming full employment. The steady growth rate is then investigated before dynamic aspects of the model are studied and fiscal and monetary policies are examined within a dynamic growth process. Phase diagrams for growth models are employed to to offer an explanation for the effects of short-run demand-control policies. The most important difference from previous works is the explicit introduction of a financial sector functioning as an inflation barrier. JEL Codes: E12 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10572Endogenous money supplyEndogenous growthfiscal and monetary policy |
| spellingShingle | K. WATANABE An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model PSL Quarterly Review Endogenous money supply Endogenous growth fiscal and monetary policy |
| title | An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model |
| title_full | An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model |
| title_fullStr | An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model |
| title_full_unstemmed | An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model |
| title_short | An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model |
| title_sort | endogenous growth model with endogenous money supply integration of post keynesian growth model |
| topic | Endogenous money supply Endogenous growth fiscal and monetary policy |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10572 |
| work_keys_str_mv | AT kwatanabe anendogenousgrowthmodelwithendogenousmoneysupplyintegrationofpostkeynesiangrowthmodel AT kwatanabe endogenousgrowthmodelwithendogenousmoneysupplyintegrationofpostkeynesiangrowthmodel |