Publication detail

Postkeynesian Theory of Money, Monetary and Interest Rate Policy and the Role of the Central Bank

Author(s): † prof. Ing. Milan Sojka CSc.,
Type: IES Working Papers
Year: 2002
Number: 20
ISSN / ISBN:
Published in: IES WP 2002/20
Publishing place: Prague
Keywords:
JEL codes:
Suggested Citation:
Abstract: Main approaches to monetary theory and monetary policy in postkeynesian economics are discussed. The development of postkeynesian theory of endogenous money is explained beginning with an absolute endogeneity (Kaldor, Weintraub, Moore), via structuralist approach (Minsky) to modern relative endogeneity approach (Dow, Rodríguez-Fuentes, Wrey). Economic policy advice following from these theoretical concepts and necessary changes in the role of the central bank are discussed.
Downloadable: WP 20

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