When are interest rates exogenous?

Complexity, Endogenous Money and Macroeconomic Theory: Essays in Honour of Basil J. Moore

Volumn , Issue , 2006, Pages 271-289

  Wray, L Randall ^a  

^a UNIVERSITY OF MISSOURI KANSAS CITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 62549158424     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Chapter

References (28)

1. Bell, S. (2000) ‘Do Taxes and Bonds Finance Government Spending?’ Journal of Economic Issues, 34(3), 603-20.
2. Bell, S. and L.R. Wray (2002-2003) ‘Fiscal Effects on Reserves and the Independence of the Fed’, Journal of Post Keynesian Economics, 25, 263-71.
3. Chick, V. (1986) ‘The Evolution of the Banking System and the Theory of Saving, Investment and Interest’, Department of Economics, University College of London, Discussion Paper No. 86-01.
4. Cooley, T. and S. LeRoy (1981) ‘Identification and Estimation of Money Demand’, The American Economic Review, 71, 825-44.
5. Desai, M. (1989) ‘Endogenous and Exogenous Money’, in John Eatwell, Murray Milgate and Peter Newman (eds), The New Palgrave: Money, New York and London: W.W. Norton.
6. Foley, D. (1975) ‘On Two Specifications of Asset Equilibrium in Macroeconomic Models’, Journal of Political Economy, 83, 303-24.
7. Homer, S. and R. Sylla (1991) A History of Interest Rates, 3rd edition, New Brunswick: Rutgers University Press.
8. Keynes, J.M. (1937) ‘Alternative Theories of the Rate of Interest’, Economic Journal, 47, 241-52.
9. Keynes, J.M. (1936-1964) The General Theory of Employment Interest and Money, New York: Harcourt, Brace and Company.
10. Lavoie, M. and M. Seccareccia (2001) ‘Minsky’s Financial Fragility Hypothesis: A Missing Macroeconomic Link?’ in Riccardo Bellofiore and Piero Ferri (eds), Financial Fragility and Investment in the Capitalist Economy: The economic legacy of Hyman Minsky, volume 2, Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
11. Meulendyke, A. (1988) ‘Can the Federal Reserve Influence Whether the Money Supply is Endogenous? A Comment on Moore’, Journal of Post Keynesian Economics, 10, 391-7.
12. Minsky, H.P. (1963) ‘Discussion’, American Economic Review, 53, 401-12.
13. Minsky, H.P. (1975) John Maynard Keynes, New York: Columbia University Press.
14. Moore, B. (1984) ‘Contemporaneous Reserve Accounting: Can Reserves be Quantity-constrained?’ Journal of Post Keynesian Economics, 7, 103-13.
15. Moore, B. (1988) Horizontalists and Verticalists: The Macroeconomics of Credit Money, Cambridge: Cambridge University Press.
16. Moore, B. (1991) ‘Money Supply Endogeneity: “Reserve Price Setting” or “Reserve Quantity Setting” ’, Journal of Post Keynesian Economics, 13, 404-13.
17. Moore, B. (1996) ‘The Money Supply Process: A Historical Reinterpretation’, in Ghislain Deleplace and Edward J. Nell (eds), Money in Motion: The Post Keynesian and Circulation Approaches, New York: St Martin’s Press, Inc.
18. Niggle, C. (1990) ‘The Evolution of Money, Financial Institutions, and Monetary Economics’, Journal of Economic Issues, 24, 443-50.
19. Palley, T. (1991) ‘The Endogenous Money Supply: Consensus and Disagreement’, Journal of Post Keynesian Economics, 13, 397-403.
20. Papadimitriou, D. and L.R. Wray (2001) ‘Minsky’s Analysis of Financial Capitalism’, in Riccardo Bellofiore and Piero Ferri (eds), Financial Keynesianism and Market Instability, Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
21. Pollin, R. (1991) ‘Two Theories of Money Supply Endogeneity: Some Empirical Evidence’, Journal of Post Keynesian Economics, 13, 366-96.
22. Townshend, H. (1937) ‘Liquidity-premium and the Theory of Value’, The Economic Journal, 47, 157-69.
23. Tsiang, S.C. (1956) ‘Liquidity Preference and Loanable Funds Theories, Multiplier and Velocity Analysis: A Synthesis’, American Economic Review, 46, 539-64.
24. Wray, L.R. (1992a) ‘Alternative Approaches to Money and Interest Rates’, Journal of Economic Issues, 24, 1145-78.
25. Wray, L.R. (1992b) ‘Alternative Theories of the Rate of Interest’, Cambridge Journal of Economics, 16, 69-89.
26. Wray, L.R. (1990) Money and Credit in Capitalist Economies: The Endogenous Money Approach, Aldershot, UK and Brookfield, USA: Edward Elgar.
27. Wray L.R. (1998) Understanding Modern Money: The Key to Full Employment and Price Stability, Cheltenham, UK and Lyme, USA: Edward Elgar.
28. Wray, L.R. (ed.) (2004) Credit and State Theories of Money: The Contributions of A. Mitchell Innes, Cheltenham, UK and Northampton, MA, USA: Edward Elgar.