Credit, Interest Rates and the Open Economy

Matías Vernengo

ISBN 10: 1840640987 / ISBN 13: 9781840640984

Published by Edward Elgar Publishing Ltd, GB, 2000

About this Item

The horizontalist perspective is an extension of the post-Keynesian approach, that has hitherto focused on a theory of credit and money. This book extends horizontalism beyond its traditional boundaries and makes it consistent with the post-Keynesian theories of output and the open economy.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.Credit, Interest Rates and the Open Economy is essential reading for those who wish to expand their theoretical understanding of international financial issues and will be of great interest to those involved in macroeconomics, money and banking and radical economics.

Seller Inventory # LU-9781840640984

Bibliographic Details

• Title: Credit, Interest Rates and the Open Economy
• Publisher: Edward Elgar Publishing Ltd, GB
• Publication Date: 2000
• Language: English
• ISBN 10: 1840640987
• ISBN 13: 9781840640984
• Binding: Hardback
• Condition: New

About this title

Synopsis

The horizontalist perspective is an extension of the post-Keynesian approach, that has hitherto focused on a theory of credit and money. This book extends horizontalism beyond its traditional boundaries and makes it consistent with the post-Keynesian theories of output and the open economy.

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.

Credit, Interest Rates and the Open Economy is essential reading for those who wish to expand their theoretical understanding of international financial issues and will be of great interest to those involved in macroeconomics, money and banking and radical economics.

About the Author

Edited by Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy, Founding Editor Emeritus, Review of Keynesian Economics and Director, Monetary Policy Institute and Matías Vernengo, Full Professor, Bucknell University, US