Relevant bibliographies by topics / The endogenous theory of money

Contents

  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
  6. Reports

Academic literature on the topic 'The endogenous theory of money'

Author: Grafiati
Published: 4 June 2021
Last updated: 1 February 2022

Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles

Select a source type:

Consult the lists of relevant articles, books, theses, conference reports, and other scholarly sources on the topic 'The endogenous theory of money.'

Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.

You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.

Journal articles on the topic "The endogenous theory of money"

1

Shvets, Serhii. "How excessive endogenous money supply can contribute to global financial crises." Banks and Bank Systems 16, no. 3 (August 4, 2021): 23–33. http://dx.doi.org/10.21511/bbs.16(3).2021.03.

Full text
Abstract:
Financial crises have become a challenge for sustainable growth, given the frequency and intensity of crisis shocks and their destructive consequences in recent decades. The paper aims to study how the endogenously generated excess money supply can contribute to global financial crises. The creation of money supply is examined from the perspective of the Quantity Theory of Money (QTM) and endogenous money, namely Horizontalism, Structuralism, and Modern Money Theory. Given that prices are not flexible in the short term, increased volatility in the money market prevents a short-term ready balance between money supply and output. The overall result of money supply accommodation can be unpredictable if monetary authorities and commercial banks do not pool their interests, and the money demand volatility becomes extremely high. The study of the correlation between money supply and output allowed distinguishing between neutral countries in the creation of extra liquid assets and countries that can be a potential trigger for excessive money supply volatility. Monitoring the dynamics of M3 and GDP showed that before the significant crisis periods of 1997–1998, 2007–2008, and 2019–2020, the growth of money supply was more than 8%. The established critical level confirms the potential contribution of endogenously created excess money supply to global financial crises.
APA, Harvard, Vancouver, ISO, and other styles
2

Fontana, G. "Hicks on monetary theory and history: money as endogenous money." Cambridge Journal of Economics 28, no. 1 (January 1, 2004): 73–88. http://dx.doi.org/10.1093/cje/28.1.73.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Korda, Jan. "Monetary Disequilibrium in the Theory of Endogenous Money." Politická ekonomie 59, no. 5 (October 1, 2011): 680–705. http://dx.doi.org/10.18267/j.polek.814.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Lavoie, Marc. "Jacques Le Bourva's theory of endogenous credit-money." Review of Political Economy 4, no. 4 (January 1992): 436–46. http://dx.doi.org/10.1080/09538259200000028.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Niggle, Christopher J. "The Endogenous Money Supply Theory: An Institutionalist Appraisal." Journal of Economic Issues 25, no. 1 (March 1991): 137–51. http://dx.doi.org/10.1080/00213624.1991.11505132.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Bachurewicz, Gracjan Robert. "The Post-Keynesian endogenous-money supply: evidence from Poland." Review of Keynesian Economics 7, no. 3 (July 2019): 402–18. http://dx.doi.org/10.4337/roke.2019.03.09.

Full text
Abstract:
The paper examines the endogenous-money-supply theory for a representative emerging-market economy, namely Poland. The Post-Keynesian theory is tested against the fractional reserve theory of money creation that assumes money supply to be exogenously determined and controlled by the monetary authority. Granger-causality tests, the estimates from a vector error-correction model and the analysis of impulse-response functions from a general vector autoregression support the Post-Keynesian proposition of money-supply endogeneity in Poland during the 2001–2016 period. The demand for bank credit, represented by bank lending, causes changes in both bank deposits and the M3 money supply. Bank loans also Granger-cause the monetary base, as Post-Keynesian theory asserts. In short, loans make deposits, instead of the reverse. The M3 money multiplier does not Granger-cause broad money supply in Poland – a finding which further undermines the popular ‘money multiplier’ view. The above conclusions provide important insights for the Polish central bank regarding how it should understand monetary policy.
APA, Harvard, Vancouver, ISO, and other styles
7

PALLEY, THOMAS I. "The theory of endogenous money and the LM schedule: prelude to a reconstruction of ISLM." Revista de Economia Política 37, no. 1 (March 2017): 3–22. http://dx.doi.org/10.1590/0101-31572016v37n01a01.

Full text
Abstract:
ABSTRACT Money is at the center of macroeconomics, which makes understanding the money supply central for macroeconomic theory. This paper presents the Post Keynesian theory of endogenous money supply and shows how it is fundamentally different from the conventional money supply theory. The conventional approach relies on the money multiplier and bank lending is invisible. Post Keynesian theory discards the money multiplier and focuses on bank lending which drives money creation. The paper emphasizes the structuralist version of Post Keynesian theory which retains Keynes’ liquidity preference theory of long term interest rates and also recognizes banks are subject to financial constraints that limit their lending activities. The paper then shows how to derive the LM schedule in an endogenous money economy, which is a necessary prelude to reconstructing the ISLM model.
APA, Harvard, Vancouver, ISO, and other styles
8

Fontana, Giuseppe, Riccardo Realfonzo, and Marco Veronese Passarella. "Monetary economics after the global financial crisis: what has happened to the endogenous money theory?" European Journal of Economics and Economic Policies: Intervention 17, no. 3 (February 12, 2020): 339–55. http://dx.doi.org/10.4337/ejeep.2020.0056.

Full text
Abstract:
The 2010s have witnessed a new shift in central banking and, partially at least, in monetary economics and macroeconomic modelling. It is a fact that the endogenous money theory has been gradually clawing back popularity at the expense of the classical theory of interest rates, the financial intermediation view of banks, the money-multiplier story and the quantity theory of money. However, the loanable funds theory and the view of banks as pure financial intermediaries (sometimes coupled with the money-multiplier story) are still sometimes invoked. In addition, the dynamic process of creation, circulation and destruction of money is usually neglected. The point is that money endogeneity is still regarded by many mainstream economists as a mere empirical fact, not a key feature of capitalist market-based economies to be properly explained by a logically consistent theory. By contrast, dissenting economists have further advanced the endogenous money view through: (a) a generalised theory of the endogenous process of money creation; (b) the increasing popularity of modern monetary theory in the public debate; and (c) the development of aggregative stock–flow consistent models and agent-based stock–flow consistent models as an alternative to dynamic stochastic general equilibrium models.
APA, Harvard, Vancouver, ISO, and other styles
9

Dow, Sheila. "Endogenous money, liquidity and monetary reform." European Journal of Economics and Economic Policies: Intervention 17, no. 3 (February 12, 2020): 367–80. http://dx.doi.org/10.4337/ejeep.2020.0059.

Full text
Abstract:
Following its revival in the 1980s, the idea of endogenous money became increasingly widely accepted. Indeed the 2008 global financial crisis was widely blamed on the untrammelled power of banks to create credit. As a result, among the ideas for reforming the monetary system are proposals designed to eliminate that power, that is, to make the money supply exogenous. The purpose of this paper is to go back to the theory of endogenous money in order to assess these proposals, in terms of what is desirable, but also crucially what is feasible. Central to this discussion is a consideration of the range of meanings given to money and endogeneity. It is argued that what is regarded as money under different conditions is an important element in money endogeneity, and is particularly relevant for the monetary reform debate.
APA, Harvard, Vancouver, ISO, and other styles
10

Lavoie, Marc. "The Post Keynesian Theory of Endogenous Money: A Reply." Journal of Economic Issues 19, no. 3 (September 1985): 843–48. http://dx.doi.org/10.1080/00213624.1985.11504420.

Full text
APA, Harvard, Vancouver, ISO, and other styles
More sources

Dissertations / Theses on the topic "The endogenous theory of money"

1

Acar, Mehmet Fazil. "The endogenous money theory in the open economy : Turkish case." Thesis, University of Leeds, 2016. http://etheses.whiterose.ac.uk/16160/.

Full text
Abstract:
The purpose of this study is to consider a range of issues which arise in an open economy context when money is treated as endogenously created by the banking system. In this dissertation, the aim is to further develop the Post Keynesian analyses of the behaviour and decision making of the economic agents in the monetary processes and in the demand for money, and extended into an open economy context. The central bank has a role to play in terms of setting monetary policies, setting the interest rate and acting as a lender of last resort. The behaviour of the central bank, in terms of playing these roles, is analysed by considering the difference of the open economy macroeconomic variables, for example, exchange rate, foreign trade, balance of payment conditions, compare to closed economy view point. Similarly, the behaviour of the banking system in the credit creation process and their response to behaviour of the central bank are explored further. Behaviour of the banking system, with regard to their liquidity preference, is analysed in terms of setting the mark-up, supplying credit, and re-arranging their portfolios. The behaviour of households and firms are explored with regard to their decision of demanding loans, holding a currency, rearranging the portfolio decision, by considering their own liquidity preference. In addition to the theoretical developments, this dissertation includes two empirical analyses, in terms of central banking and banking in Turkey. Firstly, it explores how the Turkish central bank (the CBRT) responds to the changes in inflation gap, output gap, foreign currency reserve and exchange rate in setting the policy interest rate. Secondly, 18 partially structured and partially semi-structured interviews with senior bankers in Turkey were conducted. In the first section, the bankers’ perceptions of monetary policies implemented by the central bank are explored. In the second section, the semi-structured interviews helped to discover how these macroeconomic changes take place in the banker’s decision in the credit creation process.
APA, Harvard, Vancouver, ISO, and other styles
2

Vítek, Roman. "Postkeynesiánská teorie peněz: vliv na ekonomickou (ne)stabilitu a možnosti jejího řešení." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-75658.

Full text
Abstract:
The diploma thesis analyses the influence of money on the economic instability by the view of Post Keynesian economic theory. The paper answers the question, what creates the economic instability and if it's possible to eliminate or least reduce the instability. The money is here always seen as credit, which is made by institutions on the financial market. We need trust to create money. However the confidence is based on long-term expectations, which are not rational. The result of the analysis is that the trust growth in economy leads to growth of creation of money, whereby more money based on irrational, by psychology influenced expectations, is made. The economy becomes less stable, because there is more money in it, than people will have in the future to pay for its extinction. As the irrational expectation is an exogenous variable, which basically cannot be influenced, the economic instability is ineliminable and therefore allied to economy. We can only reduce instability by focusing on limiting factors in the creation of money, or on areas, where the irrational action can vent itself. Into consideration comes regulation of the financial institutions size, or regulation of international capital flow.
APA, Harvard, Vancouver, ISO, and other styles
3

Ögren, Anders. "Empirical studies in money, credit and banking : the Swedish credit market in transition under the silver and gold standards 1834-1913." Doctoral thesis, Handelshögskolan i Stockholm, EHFF - Stiftelsen för Ekonomisk-historisk och Företagshistorisk Forskning, 2003. http://urn.kb.se/resolve?urn=urn:nbn:se:hhs:diva-1876.

Full text
Abstract:
The empirical results reached in this thesis contradict the traditional theoretical view of money as being exogenously introduced into an economy as a medium of exchange intended to reduce the transactions costs associated with barter. Instead money was endogenously created in the form of credit. Thus, the long run neutrality of money also is called into question. The varying quality of different kinds of money reflects the demand for them. If legal tender was of higher quality than private promissary notes, it was because the former were in greater demand. Concisely put, the market determines the value, and therefore the quality, of various kinds of money. The principal problem addressed in this thesis is how, during the expansive nineteenth century, it was possible to satisfy the ever growing need for credit and means of payment without sacrificing the fixed exchange rate. Particular attention is paid to the private note issuing banks, the so called Enskilda banks, that dominated the Swedish banking system throughout the nineteenth century. In addition to their note issuing, the Enskilda banks were characterized by unlimited owner liability. An examination of the ongoing political process from a rational choice perspective, indicates that initially the concept of note issuing Enskilda banks enjoyed wide spread support. They were considered to be a reasonable response to the problem of establishing a commercial banking system in an illiquid economy. The distribution of political and economic power in favor of the Crown and the Nobility included their control over the issuance of bank charters. The monopolistic policy they followed in this regard, however, resulted in growing hostility towards these. As a result, starting in the middle 1860's, a more liberal attitude towards the establishment of banks began to prevail. By the end of the nineteenth century, various political interest were able to engineer the revocation of the Enskilda banks’ note issuing rights. The special characteristics of the Enskilda banks, the right to issue bank notes and the unlimited liability of their owners, have caused them to be perceived as outdated, at least once Joint Stock banks were introduced. In contrast to the Enskilda banks, these were unable to issue notes but instead provided their owners with limited liability. The thesis demonstrates that, given the initial illiquidity of the Swedish economy, the Enskilda banks actually were the more efficient alternative. Indeed, the note issuing privileges of the Enskilda banks became one of the principal factors behind the development of liquid domestic capital markets. An empirical study that includes the most basic constraints faced by the nineteenth century Swedish economy, the demands of the specie standard and the general shortages of reliable means of payment and of credit, reveals that the Enskilda bank system can not, strictly speaking, be considered an example of free banking. Instead of holding specie reserves, the Enskilda banks backed their notes with central bank (Riksbank) notes. This was not because the public preferred Enskilda bank to Riksbank notes.  Rather it was the result of a monetary adverse selection process; Gresham’s Law.  Previously utilized, lower quality, means of payment were replaced by Enskilda bank notes. By accepting some of the discount costs, the Enskilda banks made their notes circulate at par with Riksbank notes. Thus a domestic specie exchange system was created. The note issuance of the Enskilda banks paved the way for the deposit based commercial banking system that followed, and it was essential for the monetization of the economy that occurred during the late 1860's. The long run expansion of the money supply was unrelated to growth in Riksbank reserves, specie holdings or the monetary base. Other countries operating under the specie standard also experienced monetary growth, indicating that the specie standard actually was a system of credit. Money supply, as measured in terms of Riksbank and Enskilda bank notes held by the public, eventually reflected the level of output (GDP).  VAR-tests indicated that annual changes in the level of Riksbank reserves preceded changes in the money supply which, in turn, preceded changes in the level of prices, thus supporting the price quantity theory. These results are summarized in a regression model that estimates domestic price movements as a function of current changes in international prices and GDP and of lagged changes in domestic prices and the money supply. The final chapter is an empirical analysis of the support provided to the Swedish banking system during the most severe financial crises of the nineteenth century.  Maintaining the specie standard was over riding goal of the Riksbank. In times of crises, this concern prevented the Bank from supporting the banking system in accord with the classical lender of last resort recipe; to inject liquidity and briefly suspend convertibility. The thesis argues that in a transitional economy, such as that of nineteenth century Sweden, the fixed exchange rate makes it impossible in times of crisis to support the banks at all costs. Doing so might well convert a banking crisis into a currency crisis. Indeed, this is exactly what has happened in various countries on several occasions during the late twentieth century. Instead the appropriate procedure for acting as lender of last resort in a transitional economy is to initially support the banks, but only as long as central bank reserves are not exhausted. Should the seriousness of the crisis make this insufficient, the authorities should then proceed to import high powered money as a way of supplementing their reserves. The possibility that such action will be needed makes it particularly important that the country’s public finances be kept in good order.

Diss. Stockholm : Handelshögskolan, 2003. Sammanfattning på engelska

APA, Harvard, Vancouver, ISO, and other styles
4

Wäckerle, Manuel. "On the Bottom-up Foundations of the Banking-Macro Nexus." Kiel Institute for the World Economy, 2013. http://dx.doi.org/10.5018/economics-ejournal.ja.2013-40.

Full text
Abstract:
The complexity of credit-money is conceived as the central issue in the banking-macro nexus, which the author considers as a structural as well as process component of the evolving economy. This nexus is significant for the stability as well as the fragility of the economic system, because it connects the monetary with the real domain of economic production and consumption. The evolution of credit rules shapes economic networks between households, firms, banks, governments and central banks in space and time. The properties and characteristics of this evolutionary process are discussed in three sections. First, the author looks into the origins of the theory of money and its role for contemporary monetary economics. Second, he briefly discusses current theoretical foundations of top-down as well as bottom-up approaches to the banking-macro nexus, such as dynamic stochastic general equilibrium and agent-based models. In the third part he suggests an evolutionary framework, building on a generic rule-based approach, to arrive at standards for bottom-up foundations in agent-based macroeconomic models with a banking sector. (author's abstract)
APA, Harvard, Vancouver, ISO, and other styles
5

Baron, Hervé. "Endogenous theories of money : a critical appraisal." Thesis, Paris 1, 2020. http://www.theses.fr/2020PA01E021.

Full text
Abstract:
Dans ce travail, nous allons traiter de l’économie monétaire. Plus précisément, en utilisant largement l’histoire de la pensée économique, nous tenterons d’abord, d’une part, de reconstruire le chemin qui a conduit à l’émergence du New Consensus Model et, d’autre part, d’examiner ses faiblesses et ses limites d’un point de vue méthodologique. En outre, toujours à partir de l’histoire de la pensée économique, nous essaierons ensuite, d’une part, de reconstruire la pensée monétaire de Kaldor et Graziani et, d’autre part, d’examiner, toujours du point de vue méthodologique, les querelles entre horizontalistes et structuralistes. Une interprétation personnelle de la pensée de Kaldor et de Graziani sera fournie à la fin des chapitres qui leur sont consacrés. Enfin, quelques conclusions préliminaires seront tirées et quelques orientations possibles pour les recherches futures seront indiquées
In this work, we shall be dealing with monetary economics. More precisely, through the extensive use of the history of economic thought, we shall at first try, on the one hand, to reconstruct the path that led to the emergence of the so-called New Consensus Model and, on the other, to examine its weaknesses and limitations from a methodological point of view. Furthermore, again using the history of economic thought, we shall secondarily try, on the one hand, to reconstruct the monetary thought of Kaldor and Graziani and, on the other, to examine, again from the methodological point of view, the querelles between horizontalists and structuralists. A personal interpretation of both Kaldor and Graziani’s thought will be provided at the end of the chapters dedicated to them. Finally, some preliminary conclusions will be drawn and some possible directions for future researches will be pointed out
APA, Harvard, Vancouver, ISO, and other styles
6

Theron, N. "Endogenous credit money : evidence from selected developing countries." Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/53408.

Full text
Abstract:
Dissertation (PhD)--Stellenbosch University, 2003.
ENGLISH ABSTRACT: The endogenous money theory states that the money supply responds endogenously to the demand for credit. The money supply is not exogenously determined by the central bank. The endogenous theory is associated with the Post Keynesian school. It has been tested extensively for developed countries, where it was found that the modern credit-driven world is characterised by an endogenous money supply. The contribution of the present study is to extend this analysis to developing countries, specifically twelve countries in the SADC region. To examine the applicability of the endogenous money theory to developing countries, the thesis begins with an overview of the views of the different schools of thought on the role of money. The areas of consensus and disagreement within the Post Keynesian school are discussed. The theoretical basis of the thesis is the ‘structuralist’ Post Keynesian view that money cannot be endogenous if the financial system in a country has not reached the final stages of development. The ‘structuralist’ hypothesis is tested for the SADC countries by examining the demand and supply of credit money in each country. It was found that households do not generally have full access to formal credit markets. Changes in the money supply are not determined by changes in private sector credit in many of the countries. The analysis was then extended to the institutional environment in each country. A financial institutional index was developed to facilitate comparison between the SADC countries. It was shown that South Africa is the only country in the SADC area that has a financial system that can be classified as ‘largely developed’. It is also the only country where changes in the supply of money are predominantly credit-driven. Post Keynesians maintain that the money supply is endogenous and interest rates are exogenous. Interest rate mark-ups and spreads are assumed stable over the business cycle. This notion is challenged by the ‘structuralist’ Post Keynesians. To test the theory of stable interest rate mark-ups and spreads, data for each individual country were examined. Neither interest rate spreads, nor interest rate mark-ups were found to be stable. Interest rate spreads are generally higher in developing countries than in developed countries. No clear pro- or counter-cyclical variation in spreads was found. Finally, an econometric model was developed and the links between financial development and growth were examined. By looking at 49 developed and developing countries, it was found that financial development is strongly linked to economic growth. Financial repression and high interest rate spreads cause growth to be depressed. Financial development and increased competition in the banking sector will lead to higher real economic growth rates. In an environment where the financial system has not reached the stage where money is endogenous, the lack of financial institutional development stifles economic growth.
AFRIKAANSE OPSOMMING: Die teorie van ‘n endogene geldvoorraad aanvaar dat die aanbod van geld endogeen reageerop die vraag na krediet. Die geldvoorraad word nie eksogeen bepaal deurdie sentrale bank nie. Die endogene gedvoorraad teorie word geassosieer met die Post Keynesiaanse skool. Dit is reeds getoets vir ontwikkelde lande, waar die bevinding was dat ‘n endogene geldvoorraad ‘n eienskap is van ‘n moderne kredietgedrewe wereld. Hierdie tesis maak ‘n bydrae deur die analise uit te brei na ontwikkelende lande, spesifiek twaalf lande in die SADC streek. Om die toepasbaarheid van die endogene geldvoorraad vir ontwikkelende lande te toets, begin die tesis met ‘n oorsig van die verskillende denkskole se sienings oor die rol van geld. Die areas waar Post Keynesiane ooreenstem en verskil word bespreek. Die teoretiese basis van die tesis is die ‘strukturalistiese’ Post Keynesiaanse siening dat die geldvoorraad nie endogeen kan wees indien die finansiele sisteem in ‘n land nog nie die finale ontwikkelingstadia bereik het nie. Hierdie hipotese van die ‘strukturaliste’ word getoets vir die SADC lande deur te kyk na die vraag na en aanbod van krediet in elke land. Daar is bevind dat huishoudings oor die algemeen nie volledige toegang het tot formele kredietmarkte nie. Veranderinge in die geldvoorraad word nie in al die lande veroorsaak deur veranderinge in privaat sektor kredietverlening nie. Hierdie analise word dan uitgebrei na die institusionele omgewing in elke land, ‘n Finansiele institusionele indeks is ontwikkel om vergelyking tussen die SADC lande moontlik te maak. Daar is bevind dat Suid Afrika die enigste land is met 'n finansiele sisteem wat geklassifiseer kan word as ‘grotendeels ontwikkeld’. Dit is ook die enigste land waardie geldvoorraad beduidend kredietgedrewe is. Post Keynesiane glo dat die geldvoorraad endogeen is en rentekoerse eksogeen. Rentekoersmarges word gesien as stabiel oor die konjunktuursiklus. Hierdie aanname word bevraagteken deur die ‘strukturalistiese’ Post Keynesiane. Die teorie van stabiele rentekoersmarges word getoets deur te kyk na data vir elke individuele land. Die bevinding is dat rentekoersmarges nie stabiel is nie. Marges is oor die algemeen hoer in ontwikkelende lande as in ontwikkelde lande. Daar is geen duidelike pro- of kontrasikliese variasies in rentekoersmarges gevind nie. Laastens is ‘n ekonometriese model ontwikkel om die skakels tussen finansiele ontwikkeling en groei te ondersoek. Deur te kyk na 49 ontwikkelde en onontwikkelde lande, is daar bevind dat finansiele ontwikkeling en groei ‘n sterk verband toon. Finansiele onderdrukking en hoe rentekoersmarges lei tot laer ekonomiese groei. Finansiele ontwikkeling en groter mededinging in die bank sektor sal lei tot hoer reele ekonomiese groeikoerse. In ‘n omgewing waar die finansiele sisteem nog nie die stadium bereik het waar geld endogeen is nie, sal die gebrek aan finansiele institusionele ontwikkeling ekonomiese groei benadeel.
APA, Harvard, Vancouver, ISO, and other styles
7

Mittner, Jiří. "The Endogenous Supply of Money Some Theoretical Implications." Doctoral thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-77086.

Full text
Abstract:
This thesis concentrates on the topic of the endogenous supply of money. It describes the basic shapes of the endogenous money theory and analyzes the causes of usual misunderstandings about the nature and behavior of money. We outline the important difference between asset-based and liability-based understanding of money and conclude that although both principles are theoretically applicable, the liability-based approach matches the major volume of real economic transactions. The liability-approach, which we conclude to be more appropriate way of understanding money, leads back to the topic of money endogeneity. We go over to the development of the ideas of endogenous supply of money as they appear over the second half of the 20th century and depict the major contributions in this area. We reference also the Czech academic research and comment the most relevant works. In the second part, the thesis concentrates on two theoretical areas analyzing the impacts of the money endogeneity. We point out at fundamental controversies in the concept of deposit multiplication concluding it to be an unrealistic process in a credit based economy. We conclude that the stock of money is not a directly controllable aggregate, especially not by means of the money base. The other area is the theory of capital and the foundation of the return on capital. We recall the Keynesian topic of the euthanasia of the rentier, develop the microeconomical foundation of the accumulation of capital and conclude that the zeroizing of the interest rate is feasible in a long-run. In the third part we go over to economic history and schools of economic thinking confronting them with the theory of endogenous supply of money. We concentrate on the notorious Smithian criticism of the mercantile doctrine finding the criticism not fully sustainable if we consider the varying nature of money over the medieval period. We analyze the available statistical data of medieval England concluding that the stock of monetary metals had a direct influence on the economic activity of England in the pre-Smithian era thus referencing to a strongly exogenous character of money, while there is no such relation afterwards, when money was becoming more endogenous. We put a next emphasis on the Austrian theory of money, which in many aspects is at variance with the endogenous money theory. We analyze both views on the money circulation and add new comments to the discussion on the foundation of the return on capital. We draw attention to the Mises' idea of Zirkulationskredit (circulation credit) concluding that this concept comes in fact to a common understanding of the money behavior along with the endogenous money approach. We conclude with finding that the theory of endogenous supply of money is a fundamental economical concept with impacts on almost all other branches of economics. This thesis thus contributes to a larger adoption of the endogenous money theory in the economical research on the theoretical as well as on the practical level. Concerning the practical area, the primary interest in adoption of this theory in contemporary macroeconomics is indeed concentrated on the suggestion for economic policy after the 2008 subprime crisis and we extend this thesis also by concluding notes in this issue.
APA, Harvard, Vancouver, ISO, and other styles
8

Dodd, Nigel Bruce. "Money in social theory." Thesis, University of Cambridge, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.239150.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Kwak, Seung Ki. "Institutional theory of naive money." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/120202.

Full text
Abstract:
Thesis: Ph. D., Massachusetts Institute of Technology, Sloan School of Management, 2018.
Cataloged from PDF version of thesis.
Includes bibliographical references.
In the first chapter, I propose a theoretical framework to elucidate how capital from unsophisticated investors (naive money) is associated with fund performance dynamics. In the framework, when naive money invested in a fund exceeds the ideal amount for the manager's skill, it leads funds to under-perform persistently. In contrast, the model predicts that, when the amount of invested naive money is smaller than the ideal size of a fund reflecting the manager's skill, the fund performs the same as the market on a risk-adjusted basis. Empirical results using mutual fund data support this prediction. In the second chapter, I develop a model that characterizes how naive money influences the decisions of active mutual fund managers: in particular, managerial effort, fees, marketing expenses, private benefit-seeking, and risk-taking. My model predicts that managers who receive a surplus of naive money are inclined to reduce their managerial effort, charge higher fees, allocate more resources towards marketing, and pursue their private benefit by sacrificing returns to investors. In addition, it also predicts that a manager is most likely to increase idiosyncratic risk when the amount of invested naive money gets closer to a certain size of the fund that reflects the manager's skill. In the third chapter, I build a model to study how naive money affects funds' survivorship and entry decisions. Sufficient capital provision from unsophisticated investors elongates the survival of unskilled managers. Competition among funds determines the industry equilibrium, and the equilibrium is affected by several key market conditions: the aggregate investment opportunities, the aggregate capital inflows from unsophisticated investors, and the supply of skilled managers. When AM markets are heterogeneous in investor sophistication, the model shows, AM markets with more sophisticated investors (say, hedge fund markets) differentiate from those with less sophisticated investors (say, mutual fund markets). Skilled managers generate more value in hedge fund markets, and choose to enter those markets.
by Seung Ki Kwak.
1. Theory and Evidence: Mutual Fund Performance Dynamics -- 2. IO of Active Mutual Funds -- 3. IO of the Active AM Industry: Entries and Exits.
Ph. D.
APA, Harvard, Vancouver, ISO, and other styles
10

Guerriero, Carmine. "Endogenous legal systems : theory and evidence." Thesis, University of Cambridge, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.608761.

Full text
APA, Harvard, Vancouver, ISO, and other styles
More sources

Books on the topic "The endogenous theory of money"

1

1946-, Howitt Peter, Brant-Collett Maxine, and García-Peñalosa Cecilia, eds. Endogenous growth theory. Cambridge, Mass: MIT Press, 1998.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
2

Helpman, Elhanan. Endogenous macroeconomic growth theory. Cambridge, Mass: National Bureau of Economic Research, 1991.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
3

Ireland, Peter N. Endogenous money or sticky prices? Cambridge, Mass: National Bureau of Economic Research, 2002.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
4

Arestis, P. Theoretical reflection on endogenous money. [Dagenham]: University of East London, Dept. of Economics, 1994.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
5

Magris, Francesco. Money, market imperfections, and endogenous fluctuations. Louvain-la-Neuve: CIACO, 1998.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
6

Dow, A. C. Endogenous money creation and idle balances. Stirling: University of Stirling, 1987.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
7

M, Solow Robert. Siena lectures on endogenous growth theory. Siena: Dipartimento di Economia Politica, Università di Siena, 1992.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
8

Money and credit in capitalist economies: The endogenous money approach. Aldershot, Hants, England: E. Elgar, 1990.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
9

Curry, Leslie. Towards a theory of endogenous geographical evolution. [Toronto]: Centre for Urban and Community Studies, University of Toronto, 1989.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
10

Grossman, Gene. Endogenous innovation in the theory of growth. [S.L.]: [S.N.], 1994.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
More sources

Book chapters on the topic "The endogenous theory of money"

1

Palley, Thomas I. "The Endogenous Money Supply: Theory and Evidence." In Post Keynesian Economics, 103–25. London: Palgrave Macmillan UK, 1996. http://dx.doi.org/10.1057/9780230374126_7.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Davidson, Louise. "Money: Cause or Effect? Exogenous or Endogenous?" In Uncertainty, International Money, Employment and Theory, 179–95. London: Palgrave Macmillan UK, 1999. http://dx.doi.org/10.1007/978-1-349-14991-9_12.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Motolese, Maurizio. "Endogenous uncertainty and the non-neutrality of money." In Studies in Economic Theory, 131–59. Berlin, Heidelberg: Springer Berlin Heidelberg, 2004. http://dx.doi.org/10.1007/978-3-662-05858-9_9.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Fontana, Giuseppe, and Mark Setterfield. "A Simple (and Teachable) Macroeconomic Model with Endogenous Money." In Macroeconomic Theory and Macroeconomic Pedagogy, 144–68. London: Palgrave Macmillan UK, 2009. http://dx.doi.org/10.1007/978-0-230-29166-9_9.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Thomas, D. Gareth. "A Catastrophe Theory of the Endogenous Cycle of Loanable Funds." In The Creators of Inside Money, 123–39. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-90257-9_8.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Chick, Victoria. "Lost and Found: Some History of Endogenous Money in the Twentieth Century." In The Monetary Theory of Production, 53–66. London: Palgrave Macmillan UK, 2005. http://dx.doi.org/10.1057/9780230523074_4.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Desai, Meghnad. "Endogenous and Exogenous Money." In Money, 146–50. London: Palgrave Macmillan UK, 1989. http://dx.doi.org/10.1007/978-1-349-19804-7_16.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Palley, Thomas I. "Beyond Endogenous Money: Toward Endogenous Finance." In Money in Motion, 516–31. London: Palgrave Macmillan UK, 1996. http://dx.doi.org/10.1007/978-1-349-24525-3_20.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Desai, Meghnad. "Endogenous and Exogenous Money." In The New Palgrave Dictionary of Economics, 3628–32. London: Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_557.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Rousseas, Stephen. "The endogenous money supply." In Post Keynesian Monetary Economics, 62–72. London: Palgrave Macmillan UK, 1986. http://dx.doi.org/10.1007/978-1-349-18229-9_4.

Full text
APA, Harvard, Vancouver, ISO, and other styles

Conference papers on the topic "The endogenous theory of money"

1

Wu, Lei, Cheng Chen, Naixin Zhang, and Jie Liu. "Electronic Payment Instruments and Endogenous Money Supply." In 2009 International Conference on Management of e-Commerce and e-Government. IEEE, 2009. http://dx.doi.org/10.1109/icmecg.2009.18.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Page, Frank, and Myrna Wooders. "Endogenous network dynamics." In the Behavioral and Quantitative Game Theory. New York, New York, USA: ACM Press, 2010. http://dx.doi.org/10.1145/1807406.1807416.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Charness, Gary, and Chun-Lei Yang. "Endogenous group formation and efficiency." In the Behavioral and Quantitative Game Theory. New York, New York, USA: ACM Press, 2010. http://dx.doi.org/10.1145/1807406.1807463.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Bimpikis, Kostas, Daron Acemoglu, and Asuman Ozdaglar. "Communication dynamics in endogenous social networks." In the Behavioral and Quantitative Game Theory. New York, New York, USA: ACM Press, 2010. http://dx.doi.org/10.1145/1807406.1807499.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Bai, Rui, Weiyu Pan, and Chao Li. "Game Theory Analysis about the Red Packet Money." In 2017 2nd International Conference on Education, Management Science and Economics (ICEMSE 2017). Paris, France: Atlantis Press, 2017. http://dx.doi.org/10.2991/icemse-17.2017.67.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Rapoport, Amnon, William E. Stein, Vincent Mak, Rami Zwick, and Darryl A. Seale. "Endogenous arrivals in batch queues with constant or variable capacity." In the Behavioral and Quantitative Game Theory. New York, New York, USA: ACM Press, 2010. http://dx.doi.org/10.1145/1807406.1807460.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Milosheska Gavrovska, Milica, and Trajko Slaveski. "The Long-Run and Short-Run Endogeneity of Money Supply in the Republic of Macedonia: An Empirical Analysis." In International Conference on Eurasian Economies. Eurasian Economists Association, 2019. http://dx.doi.org/10.36880/c11.02301.

Full text
Abstract:
The aim of this paper is to assess the endogenous and exogenous approaches on the money creation process on empirical grounds, through analysis in the case of the Republic of Macedonia. Using the ARDL econometric model, it has been determined that the money supply in the Republic of Macedonia in the period January 2003 - August 2018 is endogenously determined in the long run. The empirical results in the short term show bidirectional causality between deposits and monetary base, as well as between deposits and loans. However, in the end, the central bank in the Republic of Macedonia has an influence on the money supply. The exogenous monetary policies based on money supply control, can positively influence the amount of liquidity held by commercial banks and, hence, increase the supply of loans, but the demand for loans is still important when stimulating the entry of liquidity in the real economy.
APA, Harvard, Vancouver, ISO, and other styles
8

Tadrous, John, Hesham El Gamal, and Atilla Eryilmaz. "Can carriers make more profit while users save money?" In 2014 IEEE International Symposium on Information Theory (ISIT). IEEE, 2014. http://dx.doi.org/10.1109/isit.2014.6875135.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Hao, Jie. "Analysis of Whether Cryptocurrency Like Bitcoin is Real Money from the Perspective of State Theory of Money." In 2018 2nd International Conference on Management, Education and Social Science (ICMESS 2018). Paris, France: Atlantis Press, 2018. http://dx.doi.org/10.2991/icmess-18.2018.376.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Şerban, Octavian. "From Endogenous Growth Theory to Knowledge Economy Pyramid - Comparative Analysis of Knowledge as an Endogenous Factor of Development." In International Conference Innovative Business Management & Global Entrepreneurship. LUMEN Publishing, 2020. http://dx.doi.org/10.18662/lumproc/ibmage2020/09.

Full text
Abstract:
The transition from the neoclassical model with exogenous input of technological progress perspective toward R&D model with endogenous growth of knowledge perspective is not completed, but the premises of innovation, research, education, and entrepreneurship push the limits of labour-intensive economy to knowledge-intensive economy, where knowledge is a valuable resource for sustainable growth in the long-run and the role of Intellectual Capital is critical for increasing productivity and competitiveness. By introducing Intellectual Capital in the endogenous growth model, instead of Human Capital, we have the possibility to reflect better the difference between the market value of production and physical value. In the technological era, innovation and research are able to increase the market value comparing with the accounting value. In the 4th Industrial Revolution, this model is able to be changed dramatically if we take into account the possibility of machines to create knowledge through Artificial Intelligence, Internet of Things, new biotechnologies, new materials, and nanotechnology. For this reason, the more important action for the economic processes is to manage knowledge, starting with increased awareness, accurate measurement system, improved taxonomy, dedicated processes, and so on. In such conditions, the equation of growth theory has to be rewritten soon. The purpose of this research is not to provide a silver bullet of measurement Total Factor Productivity (TFP), but to understand better the part of productivity dedicated to the intangible and to validate this approach within the KEP model. Knowledge Economy Pyramid (KEP) is a valuable environment for incubating and accelerate knowledge in the process, as long as KEP model is creating a collaborative environment where the related stakeholders – universities, factories, technology providers, government, administration, local communities, clusters – are working together in order to achieve the objective of increasing productivity and competitiveness.
APA, Harvard, Vancouver, ISO, and other styles

Reports on the topic "The endogenous theory of money"

1

Ireland, Peter. Endogenous Money or Sticky Prices? Cambridge, MA: National Bureau of Economic Research, December 2002. http://dx.doi.org/10.3386/w9390.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Gavin, William T., and Finn E. Kydland. Endogenous Money Supply and the Business Cycle. Federal Reserve Bank of St. Louis, 1995. http://dx.doi.org/10.20955/wp.1995.010.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Helpman, Elhanan. Endogenous Macroeconomic Growth Theory. Cambridge, MA: National Bureau of Economic Research, October 1991. http://dx.doi.org/10.3386/w3869.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Brunnermeier, Markus, and Yuliy Sannikov. The I Theory of Money. Cambridge, MA: National Bureau of Economic Research, August 2016. http://dx.doi.org/10.3386/w22533.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Tornell, Aaron, and Andres Velasco. Money-Based versus Exchange Rate-Based Stabilization with Endogenous Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, October 1995. http://dx.doi.org/10.3386/w5300.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Diamond, Douglas, and Raghuram Rajan. Money in a Theory of Banking. Cambridge, MA: National Bureau of Economic Research, November 2003. http://dx.doi.org/10.3386/w10070.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Kiyotaki, Nobuhiro, and Randall Wright. Search for a Theory of Money. Cambridge, MA: National Bureau of Economic Research, October 1990. http://dx.doi.org/10.3386/w3482.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Grossman, Gene, and Elhanan Helpman. Endogenous Innovation in the Theory of Growth. Cambridge, MA: National Bureau of Economic Research, November 1993. http://dx.doi.org/10.3386/w4527.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Grubb, Farley. Colonial American Paper Money and the Quantity Theory of Money: An Extension. Cambridge, MA: National Bureau of Economic Research, April 2016. http://dx.doi.org/10.3386/w22192.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Jones, Charles. Population and Ideas: A Theory of Endogenous Growth. Cambridge, MA: National Bureau of Economic Research, November 1997. http://dx.doi.org/10.3386/w6285.

Full text
APA, Harvard, Vancouver, ISO, and other styles
You might also be interested in the extended bibliographies on the topic 'The endogenous theory of money' for particular source types:
Journal articles Dissertations / Theses Books
We offer discounts on all premium plans for authors whose works are included in thematic literature selections. Contact us to get a unique promo code!

To the bibliography