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The Basic Dynamics of the Stock of Money and Capital

Author

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  • Sánchez, Julián

    (Departamento de Análisis Económico (Teoría e Historia Económica). Universidad Autónoma de Madrid)

Abstract

We present in this paper a model that explains the role of the external financing of capital in the evolution of a primitive economy constituted by families and firms. Our aim is to clarify which are the essential financial elements that in more complex and advanced economies could explain the evolution of their financial structures towards fragility. Now we begin studying the stability of the financial structure of a rudimentary economy with endogenous money.

Suggested Citation

  • Sánchez, Julián, 2004. "The Basic Dynamics of the Stock of Money and Capital," Working Papers in Economic Theory 2004/01, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    • Handle: RePEc:uam:wpaper:sanchez_2004
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    File URL: http://www.uam.es/departamentos/economicas/analecon/especifica/mimeo/sanchez_2004.pdf
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    References listed on IDEAS

    as
    1. Rajiv Sethi, 1995. "The Evolutionary Dynamics Of Financial Practices," Metroeconomica, Wiley Blackwell, vol. 46(3), pages 246-277, October.
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    3. Domenico Delli Gatti & Mauro Gallegati, 1990. "Financial Instability, Income Distribution, and the Stock Market," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 12(3), pages 356-374, March.
    4. Louis-Philippe Rochon, 1999. "Credit, Money and Production," Books, Edward Elgar Publishing, number 1565.
    5. L. R. Wray, 1990. "Money and Credit in Capitalist Economies," Books, Edward Elgar Publishing, number 474.
    6. Barnett,William A. & Chiarella,Carl & Keen,Steve & Marks,Robert & Schnabl,Hermann (ed.), 2000. "Commerce, Complexity, and Evolution," Cambridge Books, Cambridge University Press, number 9780521620307, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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