In this paper we discuss the coherence between the methodological approach of the Monetary Theory of Production, as pioneered in Italy by Augusto Graziani, and the Stock-flow-consistent approach pioneered by Wynne Godley and later developed by Godley and Marc Lavoie. We show that the approaches are entirely compatible, and discuss how stock-flow consistency helps solve the "paradox of profits"
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Titolo: | Godley and Graziani: stock-flow consistent monetary circuits |
Autori: | |
Data di pubblicazione: | 2011 |
Abstract: | In this paper we discuss the coherence between the methodological approach of the Monetary Theory of Production, as pioneered in Italy by Augusto Graziani, and the Stock-flow-consistent approach pioneered by Wynne Godley and later developed by Godley and Marc Lavoie. We show that the approaches are entirely compatible, and discuss how stock-flow consistency helps solve the "paradox of profits" |
Handle: | http://hdl.handle.net/11580/18976 |
ISBN: | 9780230294455 |
Appare nelle tipologie: | 2.1 Contributo in volume (Capitolo o Saggio) |
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