Politická ekonomie 2003, 51(2):263-285 | DOI: 10.18267/j.polek.404

Alternativní postkeynesovské modely determinace peněžní zásoby

Aleš Krejdl
Ministerstvo financí ČR, Praha.

Alternative post-keynesian models of money supply determination

This article presents three competing models of money supply determination as derived in Palley (1996). Two of the models can be considered post-keynesian in nature and identified with accommodationist and structuralist approach to money endogeneity. Post-keynesian models are contrasted with orthodox money multiplier model. Presentation of the models enables not only to derive hypothesis for empirical testing but also to compare the two post-keynesian models. The accommodationist and structuralist models are not viewed as mutually inconsistent but rather as complements. Scope for potential synthesis and future research is indicated.

Keywords: post-Keynesianism, money endogeneity, money supply determination, credit demand and credit supply
JEL classification: B59, E40, E51

Published: April 1, 2003  Show citation

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Krejdl, A. (2003). Alternative post-keynesian models of money supply determination. Politická ekonomie51(2), 263-285. doi: 10.18267/j.polek.404
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