Download or read book Keynes on Monetary Policy Finance and Uncertainty written by Jorg Bibow and published by Routledge. This book was released on 2013-03-01 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a reassessment of Keynes’ theory of liquidity preference. It argues that the failure of the Keynesian revolution to be made in either theory or practice owes importantly to the fact that the role of liquidity preference theory as a pivotal element in Keynes’ General Theory has remained underexplored and indeed widely misunderstood even among Keynes’ followers and until today. The book elaborates on and extends Keynes’ conceptual framework, moving it from the closed economy to the global economy context, and applies liquidity preference theory to current events and prominent hypotheses in global finance. Jörg Bibow presents Keynes’ liquidity preference theory as a distinctive and highly relevant approach to monetary theory offering a conceptual framework of general applicability for explaining the role and functioning of the financial system. He argues that, in a dynamic context, liquidity preference theory may best be understood as a theory of financial intermediation. Through applications to current events and prominent hypotheses in global finance, this book underlines the richness, continued relevance, and superiority of Keynes’ theory of liquidity preference; with Hyman Minsky standing out for developing Keynes’ vision of financial capitalism.
Download or read book Liquidity Preference Under Uncertainty written by Carliss y Baldwin and published by Legare Street Press. This book was released on 2022-10-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Liquidity Preference and Monetary Economies written by Fernando J. Cardim de Carvalho and published by Routledge. This book was released on 2015-05-22 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 international crisis has revived the interest in Keynes’s theories and, in particular, on Minsky’s models of financial fragility. The core proposition of these theories is that money plays an essential role in modern economies, which is usually neglected in other approaches. This is Keynes’s liquidity preference theory, which is also the foundation for Minsky’s model, a theory that has been largely forgotten in recent years. This book looks at liquidity preference theory and its most important problems, showing how one should understand the role of money in modern monetary economies. It develops Keynes’s and Minsky’s financial view of money, relating it to the process of capital accumulation, the determination of effective demand and the theory of output, and employment as a whole. Building on the author’s significant body of work in the field, this book delves into a broad range of topics allowing the general reader to understand propositions that have been mistreated in the literature including Keynes and the concept of monetary production economy; uncertainty, expectations and money; short and long period; liquidity preference theory as a theory of asset pricing under uncertainty; asset prices and capital accumulation; Keynes’s version of the principle of effective demand; and the role of macroeconomic policy. It will be essential reading for all students and scholars of Post-Keynesian economics.
Download or read book Liquidity Preference and Monetary Economies written by Fernando J. Cardim de Carvalho and published by Routledge. This book was released on 2015-05-22 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 international crisis has revived the interest in Keynes’s theories and, in particular, on Minsky’s models of financial fragility. The core proposition of these theories is that money plays an essential role in modern economies, which is usually neglected in other approaches. This is Keynes’s liquidity preference theory, which is also the foundation for Minsky’s model, a theory that has been largely forgotten in recent years. This book looks at liquidity preference theory and its most important problems, showing how one should understand the role of money in modern monetary economies. It develops Keynes’s and Minsky’s financial view of money, relating it to the process of capital accumulation, the determination of effective demand and the theory of output, and employment as a whole. Building on the author’s significant body of work in the field, this book delves into a broad range of topics allowing the general reader to understand propositions that have been mistreated in the literature including Keynes and the concept of monetary production economy; uncertainty, expectations and money; short and long period; liquidity preference theory as a theory of asset pricing under uncertainty; asset prices and capital accumulation; Keynes’s version of the principle of effective demand; and the role of macroeconomic policy. It will be essential reading for all students and scholars of Post-Keynesian economics.
Download or read book Keynes on Monetary Policy Finance and Uncertainty written by Jörg Bibow and published by . This book was released on 2005 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Liquidity Preference Under Uncertainty written by Carliss Y. Baldwin and published by . This book was released on 2013-10 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
Download or read book Fundamental Uncertainty Portfolio Choice and Liquidity Preference Theory written by Markus Pasche and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Changes in Uncertainty Aversion Liquidity Preference and the Stochastic Process of Asset Prices in a Financial Market Equilibrium written by James Juniper and published by . This book was released on 2000 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Download or read book The Theory of Liquidity Preference Incorporating Uncertainty Disequilibrium and Credit Rationing written by Lance Shandler and published by . This book was released on 1986 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Keynes on Monetary Policy Finance and Uncertainty written by and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Jrg Bibow illustrates how Keynes' methodology inspired his economic theorizing and how this led to fundamental insights concerning the role of money that contrasted with orthodox closed-system modelling.
Download or read book Liquidity Preference Uncertainty and Recession in a Stock Flow Consistent Model written by Yannis Dafermos and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a stock-flow consistent model that explicitly integrates the role of liquidity preference and perceived uncertainty into the decision-making process of households, firms, and commercial banks. Emphasis is placed on (1) the link between the precautionary motive and the asset choice of the private sector, (2) the effect of perceived uncertainty on the desired margins of safety and borrowing, and (3) the impact of financial obligations on the liquidity preference of households and firms. Performing a simulation experiment, the paper illuminates the channels through which a rise in perceived uncertainty is likely to set off a recessionary process.
Download or read book Liquidity Preference Under Uncertainty written by Carliss Young Baldwin and published by . This book was released on 1978 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Joan Robinson on Keynes s Liquidity Preference Function and the Rate of Interest and Her Failure to Grasp the Connection Between the General Theory the Liquidity Preference Function Uncertainty and the Weight of the Evidence from the a Treatise on Probability written by Michael Emmett Brady and published by . This book was released on 2018 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joan Robinson did not understand the connection between Keynes's concept of the weight of the evidence from the A treatise on Probability and the concept of the weight of the evidence from the General Theory. She mixed up Keynes's concept of uncertainty, which is based on missing evidence or knowledge, with Shackle's concept of uncertainty, which is based on the individual decision maker's imagination and dreams about outcomes where all evidence is missing.For Keynes, the rate of interest is determined by his IS equation and his LP(LM) equation. Uncertainty is brought in as a shift parameter for both equations, schedules, or curves.Joan Robinson had to have seen Keynes's 1937 article responding to Pigou in the Economic Journal that was sent to both Austin Robinson and Richard Kahn. Keynes explicitly states that his theory of the rate of interest is NOT that the interest rate is determined by the demand and supply of money. Keynes's theory of the interest rate is an advanced version of his December, 1933 student lecture where he first put forth his IS and LP equations. The two places that Keynes brings all of the elements of his theory together is in Section IV of both Chapter 15 and 21. Section IV of Chapter 15 is brief. Section IV of chapter 21 is extremely detailed. R. Skidelsky has recently stated that the Post Keynesian school of economics is built on Joan Robinson's work. Her work on Keynes's theory of Liquidity preference is partially flawed. It is unclear how the flaws that currently exist can be fixed.
Download or read book The Role of Uncertainty in the Euro Crisis a Reconsideration of Liquidity Preference Theory written by Toralf Pusch and published by . This book was released on 2012 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: An active role of fiscal policy has been rediscovered as a crisis remedy at the beginning of the financial crisis all over Europe. More recently, the Euro Crisis with its mounting governments' funding costs for a number of Southern EU member states and Ireland has called this strategy into question. As opposed to this view, the main point of this contribution is to elaborate a link between rising sovereign risk premia in the Eurozone and a major feature of the financial crisis - which culminated in elevated uncertainty after the Lehman collapse. Theoretically, this link is developed with a reference to Keynes' liquidity preference theory. Empirically, a high explanatory power of rising uncertainty in financial markets and detrimental effects of fiscal austerity for the evolution of sovereign risk spreads are demonstrated by means of panel regressions and supplementary correlation analyses
Download or read book The Influence of Uncertainty Over Growth written by James Juniper and published by . This book was released on 1996 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Keynes on Monetary Policy Finance and Uncertainty written by Jo ̈rg Bibow and published by . This book was released on 2014-05-14 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a reassessment of Keynes' theory of liquidity preference. It argues that the failure of the Keynesian revolution to be made in either theory or practice owes importantly to the fact that the role of liquidity preference theory as a pivotal element in Keynes' General Theory has remained underexplored and indeed widely misunderstood even among Keynes' followers and until today. The book elaborates on and extends Keynes' conceptual framework, moving it from the closed economy to the global economy context, and applies liquidity preference theory to current events and prominent hypotheses in global finance. Jorg Bibow presents Keynes' liquidity preference theory as a distinctive and highly relevant approach to monetary theory offering a conceptual framework of general applicability for explaining the role and functioning of the financial system. He argues that, in a dynamic context, liquidity preference theory may best be understood as a theory of financial intermediation. Through applications to current events and prominent hypotheses in global finance, this book underlines the richness, continued relevance, and superiority of Keynes' theory of liquidity preference; with Hyman Minsky standing out for developing Keynes' vision of financial capitalism.
