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A Keynesian theory of monetary inflation without government
(Lincoln University. Commerce Division., 1996-01)
This paper presents a model of inflation that is generated by an excess supply of credit-money without any money base impulse from government. Instead, inflation turns out to depend on just three variables: the marginal ...
The Keynesian multiplier, liquidity preference and endogenous money
(Lincoln University. Commerce Division, 1995-03)
An extension of Meade’s (1993) process analysis diagram is used to analyse the consequences of investment expenditure financed by credit-money, and to comment on the Keynesian multiplier theory recently challenged by Moore ...