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The Dynamic Analysis of Monetary Policy Shock on Banking Behaviour

In: Issues in Finance and Monetary Policy

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  • Edwin Le Heron

Abstract

In Keynes’s General Theory, the ‘monetary authorities’ are considered to act as a deus ex machina: they should resolve all the problems regarding the creation and control of money. The banking system and financial institutions are analysed solely in terms of central bank activities.1 The supply of money is fixed exogenously by the central bank. An endogenous theory of the demand for money co-exists with an endogenous theory of the interest rate (liquidity preference).2

Suggested Citation

  • Edwin Le Heron, 2007. "The Dynamic Analysis of Monetary Policy Shock on Banking Behaviour," Palgrave Macmillan Books, in: John McCombie & Carlos Rodríguez González (ed.), Issues in Finance and Monetary Policy, chapter 5, pages 73-99, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-80149-3_5
    DOI: 10.1057/9780230801493_5
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    Cited by:

    1. Edwin Le Héron, 2008. "Fiscal and Monetary Policies in a Keynesian Stock-flow Consistent Model," Post-Print halshs-00388042, HAL.
    2. Edwin Le Heron & Tarik Mouakil, 2008. "A Post‐Keynesian Stock‐Flow Consistent Model For Dynamic Analysis Of Monetary Policy Shock On Banking Behaviour," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 405-440, July.

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