The paper examines Keynes' views on the ability of the monetary authority to control the amount of money in circulation and the level of the interest rates. It wants to evaluate whether Keynes could agree on the assumption that the money supply function has a horizontal slope, whether his position can be located in one of the sides of the recent postkeynesian debates on the ability of the central bank to control the money supply, and whether it is this part of his contributions that makes his work depart from the traditional neoclassical approach.
Keynes on endogenous money and interest rates / Panico, Carlo. - (2006). (Intervento presentato al convegno Convergence and contrast within the Cambridge tradition tenutosi a Università di Roma La Sapienza nel marzo 2006).
Keynes on endogenous money and interest rates
PANICO, CARLO
2006
Abstract
The paper examines Keynes' views on the ability of the monetary authority to control the amount of money in circulation and the level of the interest rates. It wants to evaluate whether Keynes could agree on the assumption that the money supply function has a horizontal slope, whether his position can be located in one of the sides of the recent postkeynesian debates on the ability of the central bank to control the money supply, and whether it is this part of his contributions that makes his work depart from the traditional neoclassical approach.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
