This paper aims to cross-breed the standard monetary circuit accounting model with elements from the Post-Keynesian literature. The goals are: (i) to analyse the implications of credit-based household consumption fed by capital asset inflation for the soundness of a pure credit-money economy of production; and (ii) to provide a more sophisticated description of the working of modern financial systems than the one grounded in the usual 'bank-based vs. market based' distinction. © 2014 Taylor & Francis.

Financialization and the Monetary Circuit: A Macro-accounting Approach

Veronese Passarella M.
2014-01-01

Abstract

This paper aims to cross-breed the standard monetary circuit accounting model with elements from the Post-Keynesian literature. The goals are: (i) to analyse the implications of credit-based household consumption fed by capital asset inflation for the soundness of a pure credit-money economy of production; and (ii) to provide a more sophisticated description of the working of modern financial systems than the one grounded in the usual 'bank-based vs. market based' distinction. © 2014 Taylor & Francis.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11697/224255
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