Modern post-Keynesian approaches: continuities and ruptures with monetary circuit theory
Language
EN
Article de revue
This item was published in
Journal of Post Keynesian Economics. 2023-01-23p. 1-19
English Abstract
Stock-flow-consistent models (SFC) and modern monetary theory (MMT) are growing in popularity. Both are part of post-Keynesian theory and provide it with a modeling tool for the former and political proposals for the latter. ...Read more >
Stock-flow-consistent models (SFC) and modern monetary theory (MMT) are growing in popularity. Both are part of post-Keynesian theory and provide it with a modeling tool for the former and political proposals for the latter. However, these new modern post-Keynesian approaches share features with monetary circuit theory: their accounting framework, the hierarchy of agents and economic flows, and the importance of the Keynes’s finance motive. This article examined the fundamental elements of these new approaches to establish their links with monetary circuit theory.Read less <
Keywords
Accounting
Economic policies
Financing
English Keywords
Macroeconomics