UID:
almafu_9958081210902883
Umfang:
1 online resource (274 pages)
ISBN:
9781463994839
,
1463994834
,
9781475500639
,
1475500637
Serie:
IMF Staff Papers
Inhalt:
This paper focuses on current issues on the transmission process of monetary policy. The main process by which monetary forces influence the real economy in Keynesian income/expenditure models is through the cost-of-capital channel. In addition to the cost-of-capital channel, post-Keynesians also recognized two other channels, namely, the wealth effect on consumption expenditure and the credit rationing linkage between the financial and real sectors. One of the most significant post-Keynesian developments has been the emphasis on net private wealth as well as income as a factor influencing real flows of expenditures. The flow of services of outside money is the saving of time in barter transactions, which stems from the role of money as a medium of exchange. The saving of time may be used either for leisure or to produce capital goods. A fundamental and basic development in monetary theory subsequent to Keynes' liquidity preference theory has been the capital theoretic formulation of the demand for money.
Anmerkung:
Bibliographic Level Mode of Issuance: Monograph
,
English
Weitere Ausg.:
ISBN 9781451956337
Weitere Ausg.:
ISBN 1451956339
Weitere Ausg.:
ISBN 9781475501674
Weitere Ausg.:
ISBN 1475501676
Sprache:
Englisch
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