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Heterodox Macroeconomics and the Design of Monetary Institutions

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  • Romar Correa

Abstract

Two agendas of the heterodox economics programme; the stock-flow consistent models pioneered by Wynne Godley, and the monetary circuit approach researched in France and Italy are discussed. The objective is to present a coherent account of two innovations in payments mechanisms: deposit-creating institutions and conditional cash transfers.

Suggested Citation

  • Romar Correa, 2008. "Heterodox Macroeconomics and the Design of Monetary Institutions," Working Papers id:1721, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:1721
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    References listed on IDEAS

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    1. Dimitrios P Tsomocos & C.A.E. Goodhart, 2007. "Analysis of Financial Stability," Economics Series Working Papers 2007-FE-04, University of Oxford, Department of Economics.
    2. Claude Gnos, 2007. "French Circuit Theory," Chapters, in: Philip Arestis & Malcolm Sawyer (ed.), A Handbook of Alternative Monetary Economics, chapter 6, Edward Elgar Publishing.
    3. Philip Arestis & Malcolm Sawyer (ed.), 2007. "A Handbook of Alternative Monetary Economics," Books, Edward Elgar Publishing, number 3506.
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