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Credit, Interest Rates and the Open Economy

Editor

Listed:
  • Louis-Philippe Rochon
  • Matías Vernengo

Abstract

The authors compare and contrast the horizontalist position with various orthodox and non-orthodox views on money. They argue that horizontalism is perfectly compatible with liquidity preference, credit constraints, and a flexible interest-rate mark-up, and address recent developments in banking that reinforce the validity of a horizontal schedule of credit-money. The overall intention is to place horizontalism within the current heterodox tradition as a general theory of the creation of money that is consistent with the post-Keynesian view on macroeconomic policy.

Suggested Citation

  • Louis-Philippe Rochon & Matías Vernengo (ed.), 2000. "Credit, Interest Rates and the Open Economy," Books, Edward Elgar Publishing, number 1783.
    • Handle: RePEc:elg:eebook:1783
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    File URL: http://www.e-elgar.com/shop/isbn/9781840640984
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    Cited by:

    1. Louis-Philippe Rochon, 2000. "The Creation and Circulation of Endogenous Money: A Reply to Pressman," Journal of Economic Issues, Taylor & Francis Journals, vol. 34(4), pages 973-979, December.

    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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