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Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth
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Author:
Marc LavoieNumber Of Reads:
Language:
English
Category:
Social sciencesSection:
Pages:
575
Quality:
excellent
Views:
696
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Book Description
This book challenges the mainstream paradigm with the introduction of a new methodology. Economies are represented realistically in a fully articulated system of national income and flow of funds accounts. The authors study how flows of income, expenditure and production are intertwined with stocks of assets and liabilities, determining how whole economies evolve through time.
Starting with extremely simple stock-flow consistent models, the text describes a succession of increasingly complex models constructed with such rigor that, in harmony with its basis in accounting, there is always one equation which is implied logically by all the others. Readers will be able to download all the models and explore their properties for themselves.
Marc Lavoie
Marc Lavoie is a Canadian professor in economics at the University of Ottawa and a former Olympic fencing athlete. Born in Ottawa, Ontario, Canada, Marc Lavoie is a professor in the Department of Economics at the University of Ottawa, where he started teaching in 1979. He got his doctorate from the University of Paris. Besides having published nearly two hundred articles in refereed journals, he has written a number of books, among which are Post-Keynesian Economics: New Foundations (2014), Introduction to Post-Keynesian Economics (2006), translated into four languages, Foundations of Post-Keynesian Economic Analysis (1992), as well as Monetary Economics: An Integrated Approach to Money, Income, Production and Wealth (2007) with Wynne Godley. The latter deals with and employs in its analysis the stock/flow consistent method. Lavoie has been the associate editor of the Encyclopedia of Political Economy (1999), and he has been a visiting professor at the universities of Bordeaux, Nice, Rennes, Dijon, Grenoble, Limoges, Lille, Paris and Paris-Nord, as well as Curtin University in Perth, Australia. Lavoie is also an IMK Research Fellow at the Hans Böckler Foundation in Düsselforf and Policy Fellow at the Broadbent Institute in Toronto. He has lectured at post-Keynesian summer schools in Kansas City, the Levy Economics Institute and Berlin.
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