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A POST‐KEYNESIAN STOCK‐FLOW CONSISTENT MODEL FOR DYNAMIC ANALYSIS OF MONETARY POLICY SHOCK ON BANKING BEHAVIOUR
16 references·16 citing·36 second hopsampled
A POST‐KEYNESIAN STOCK‐FLOW CONSISTENT MODEL FOR DYNAMIC ANALYSIS OF MONETARY POLICY SHOCK ON BANKING BEHAVIOUR (2008)A POST‐KEYNESIAN STOCK‐FLOW CONSISTENT MO…Monetary Economics (2007)Monetary EconomicsReconstructing Macroeconomics: Structuralist Proposals and Critiques of the Mainstream (2004)Reconstructing Macroeconomics…Reconstructing Macroeconomics (2004)Reconstructing MacroeconomicsMonetary Policy Analysis in Models Without Money (2001)Monetary Policy Analysis in M…Monetary Policy Analysis in Models Without Money (2001)Monetary Policy Analysis in M…Kaleckian Models of Growth in a Coherent Stock-Flow Monetary Framework: A Kaldorian View (2001)Kaleckian Models of Growth in…Keynesian Macroeconomics without the LM Curve (2000)Keynesian Macroeconomics with…The Science of Monetary Policy: A New Keynesian Perspective (1999)The Science of Monetary Polic…Money and credit in a Keynesian model of income determination (1999)Money and credit in a Keynesi…Inside the Black Box: The Credit Channel of Monetary Policy Transmission (1995)Inside the Black Box: The Cre…Credit, Money, and Aggregate Demand (1988)Credit, Money, and Aggregate …Credit Rationing in Markets with Imperfect Information (1981)Credit Rationing in Markets w…A Model of U.S. Financial and Nonfinancial Economic Behavior (1980)A Model of U.S. Financial and…John Maynard Keynes (1975)John Maynard KeynesThe Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Market for "Lemons": Qual…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…Stock‐Flow Consistent Macroeconomic Models: A Survey (2018)Stock‐Flow Consistent Macroec…A supermultiplier Stock-Flow Consistent model: the “return” of the paradoxes of thrift and costs in the long run? (2018)A supermultiplier Stock-Flow …The Limits to Credit Growth: Mitigation Policies and Macroprudential Regulations to Foster Macrofinancial Stability and Sustainable Debt (2017)The Limits to Credit Growth: …Stock-Flow Consistent Macroeconomic Models: A Survey (2017)Stock-Flow Consistent Macroec…BUBBLES, CRASHES, AND THE FINANCIAL CYCLE: THE IMPACT OF BANKING REGULATION ON DEEP RECESSIONS (2017)BUBBLES, CRASHES, AND THE FIN…What output-capital ratio to adopt for macroeconomic calibrations? (2016)What output-capital ratio to …MODERN MONETARY CIRCUIT THEORY, STABILITY OF INTERCONNECTED BANKING NETWORK, AND BALANCE SHEET OPTIMIZATION FOR INDIVIDUAL BANKS (2016)MODERN MONETARY CIRCUIT THEOR…Linking functional with personal income distribution: a stock-flow consistent approach (2015)Linking functional with perso…Margins of Safety and Instability in a Macrodynamic Model with Minskyan Insights (2014)Margins of Safety and Instabi…Workers’ debt, default and the diversity of financial fragilities (2013)Workers’ debt, default and th…Stock-Flow Consistent Modeling Through the Ages (2013)Stock-Flow Consistent Modelin…Liquidity preference, uncertainty, and recession in a stock-flow consistent model (2012)Liquidity preference, uncerta…INCOME DISTRIBUTION, CREDIT RATIONING AND HOUSEHOLDS' DEBT (2012)INCOME DISTRIBUTION, CREDIT R…THE PROFIT–INVESTMENT–UNEMPLOYMENT NEXUS AND CAPACITY UTILIZATION IN A STOCK‐FLOW CONSISTENT MODEL (2009)THE PROFIT–INVESTMENT–UNEMPLO…Fiscal and Monetary Policies in a Keynesian Stock-Flow Consistent Model (2009)Fiscal and Monetary Policies …Financialisation Issues in a Post-Keynesian Stock-flow Consistent Model (2008)Financialisation Issues in a …Increases in risk and in risk aversion (1974)Risk Sharing and Incentives in the Principal and Agent Relationship (1979)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Financial Dependence and Growth (1996)Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression (1983)Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit‐taking (2002)Liquidity and leverage (2008)Capital regulation, risk-taking and monetary policy: A missing link in the transmission mechanism? (2011)Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression (2024)Macroeconomics and Reality (1980)The federal funds rate and the channels of monetary transmission (1989)Chapter 21 The financial accelerator in a quantitative business cycle framework (1999)The Quarterly Journal of Economics (2024)Consumption, Income, and Interest Rates: Reinterpreting the Time Series Evidence (1989)Discretion versus policy rules in practice (1993)Reassessing Discretionary Fiscal Policy (2000)Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth (2006)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory* (2000)Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy (2005)Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach (2007)Bank profitability and the business cycle (2008)Financialisation and capital accumulation in the non-financial corporate sector:: A theoretical and empirical investigation on the US economy: 1973-2003 (2008)Fiscal Policy in a Depressed Economy (2012)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Evolution of Cooperation (1981)The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation (1991)Aggregate Demand, Aggregate Supply and Economic Growth (2006)INTEREST RATE, DEBT, DISTRIBUTION AND CAPITAL ACCUMULATION IN A POST‐KALECKIAN MODEL (2007)STOCK‐FLOW CONSISTENT MACROECONOMIC MODELS: A SURVEY (2017)Convergence Towards the Normal Rate of Capacity Utilization in Neo‐ K aleckian Models: The Role of Non‐Capacity Creating Autonomous Expenditures (2015)The impact of phasing out fossil fuel subsidies on the low-carbon transition (2018)RATIONAL HEURISTICS? EXPECTATIONS AND BEHAVIORS IN EVOLVING ECONOMIES WITH HETEROGENEOUS INTERACTING AGENTS (2020)
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References

  • 1970The Market for "Lemons": Quality Uncertainty and the Market Mechanism22,977 cited
  • 1981Credit Rationing in Markets with Imperfect Information12,762 cited
  • 1999The Science of Monetary Policy: A New Keynesian Perspective4,927 cited
  • 1995Inside the Black Box: The Credit Channel of Monetary Policy Transmission4,205 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 1975John Maynard Keynes1,539 cited
  • 1988Credit, Money, and Aggregate Demand1,436 cited
  • 2000Keynesian Macroeconomics without the LM Curve590 cited
  • 2007Monetary Economics424 cited
  • 2004Reconstructing Macroeconomics308 cited
  • 2004Reconstructing Macroeconomics: Structuralist Proposals and Critiques of the Mainstream295 cited
  • 2001Monetary Policy Analysis in Models Without Money207 cited
  • 2001Kaleckian Models of Growth in a Coherent Stock-Flow Monetary Framework: A Kaldorian View179 cited
  • 1999Money and credit in a Keynesian model of income determination169 cited
  • 1980A Model of U.S. Financial and Nonfinancial Economic Behavior136 cited
  • 2001Monetary Policy Analysis in Models Without Money

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Cited by

  • 2008Financialisation Issues in a Post-Keynesian Stock-flow Consistent Model67 cited
  • 2013Stock-Flow Consistent Modeling Through the Ages43 cited
  • 2014Margins of Safety and Instability in a Macrodynamic Model with Minskyan Insights41 cited
  • 2018A supermultiplier Stock-Flow Consistent model: the “return” of the paradoxes of thrift and costs in the long run?38 cited
  • 2017BUBBLES, CRASHES, AND THE FINANCIAL CYCLE: THE IMPACT OF BANKING REGULATION ON DEEP RECESSIONS38 cited
  • 2015Linking functional with personal income distribution: a stock-flow consistent approach37 cited
  • 2016MODERN MONETARY CIRCUIT THEORY, STABILITY OF INTERCONNECTED BANKING NETWORK, AND BALANCE SHEET OPTIMIZATION FOR INDIVIDUAL BANKS33 cited
  • 2012Liquidity preference, uncertainty, and recession in a stock-flow consistent model26 cited
  • 2018Stock‐Flow Consistent Macroeconomic Models: A Survey22 cited
  • 2009Fiscal and Monetary Policies in a Keynesian Stock-Flow Consistent Model19 cited
  • 2017The Limits to Credit Growth: Mitigation Policies and Macroprudential Regulations to Foster Macrofinancial Stability and Sustainable Debt18 cited
  • 2017Stock-Flow Consistent Macroeconomic Models: A Survey16 cited
  • 2016What output-capital ratio to adopt for macroeconomic calibrations?15 cited
  • 2013Workers’ debt, default and the diversity of financial fragilities14 cited
  • 2009THE PROFIT–INVESTMENT–UNEMPLOYMENT NEXUS AND CAPACITY UTILIZATION IN A STOCK‐FLOW CONSISTENT MODEL14 cited
  • 2012INCOME DISTRIBUTION, CREDIT RATIONING AND HOUSEHOLDS' DEBT13 cited