The aim of this paper is to evaluate the importance of the endogenous money theory and the criterion used to achieve this objective is to evaluate whether this theory enables us to elaborate on and to broaden the explanation of the non-neutrality of money formulated by Keynes based on the liquidity preference theory. The paper shows that the endogenous money theory allows us to to put forward a sounder and more convincing explanation of the key characteristics of a monetary theory than the one based von the liquidity preference theory.
The endogenous money theory and the characteristics of a monetary economy
BERTOCCO, GIANCARLO
2010-01-01
Abstract
The aim of this paper is to evaluate the importance of the endogenous money theory and the criterion used to achieve this objective is to evaluate whether this theory enables us to elaborate on and to broaden the explanation of the non-neutrality of money formulated by Keynes based on the liquidity preference theory. The paper shows that the endogenous money theory allows us to to put forward a sounder and more convincing explanation of the key characteristics of a monetary theory than the one based von the liquidity preference theory.
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