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Money, Finance and Inflation: a Qualitative Approach

Author

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  • Loranger, J.G.

Abstract

Cet Article Comprend Trois Sections: Dans la Premiere Section, Je Decris un Nouveau Modele Econometrique de L'inflation Qui Est Analogue a Celui Qui Est Derive de L'equation Quantitative, Sauf Que la Monnaie Est Remplacee Par la Pseudo- Monnaie et le Revenu Permanent Par une Norme de Valorisation de la Richesse. Dans la Deuxieme Section, J'essaie de Clarifier la Distinction Entre Monnaie et Finance (Pseudo-Monnaie). Je Demontre En Particulier Que L'equation Quantitative des Monetaristes Ignore les Transactions Financieres. Enfin, Dans la Derniere Section, Je Deduis Cinq Propositions de L'analyse du Fonctionnement D'une Economie Monetaire, Notamment Que la Monnaie et la Pseudo-Monnaie Sont Endogenes, Qu'un Effet D'eviction Est Financierement Impossible, Que L'epargne Est Endogene au Circuit Pour Palier L'incertitude, Qu'une Economie Monetaire En Equilibre Est Incompatible Avec le Fonctionnement Normal D'une Economie Capitaliste, et Que L'inflation Vient de L'impossibilite Pour les Entreprises et le Secteur Financier de Liquider Toute la Pseudo-Monnaie Qui N'est Pas Valorisee Par de la Richesse Reelle.

Suggested Citation

  • Loranger, J.G., 1984. "Money, Finance and Inflation: a Qualitative Approach," Cahiers de recherche 8415, Universite de Montreal, Departement de sciences economiques.
  • Handle: RePEc:mtl:montde:8415
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