endogenous money

I haven't been teeing up thought pieces on the financial system on Credit Writedowns for a while now. And that's a shame since this site's name owes to the role I believe balance sheets in the financial system play in business cycles. So,…

Back in 2012, three economists published a paper via the San Francisco Fed that looked at nearly every advanced economy business cycle from 1870 forward with the object of understanding the role of credit in the business cycle. Matthew…

Last night, we aired two segments on endogenous money on Boom Bust, the TV show I am now producing on RT, the Russian broadcaster. Frances Coppola and Cullen Roche do a good job of explaining the details. Take a look

Andrea Terzi Dr. Terzi is a Professor of Economics at Franklin University Switzerland and a Research Associate with the Levy Economics Institute of Bard College. One thing’s for sure: The financial crisis has dealt a deadly blow to what…

I’m doffing my cap to the researchers at Threadneedle Street for a new paper “Money creation in the modern economy,” which gives a truly realistic explanation of how money is created, why this really matters, and why virtually everything…

From Minsky’s earliest work, he adopted what became known as the “endogenous money” approach that was revived by Post Keynesians in the 1980s. It is useful to return to Krugman’s critique of Minsky to compare Minsky’s early view of banking…

So much has been written about the endogeneity of money that I thought it was now widely accepted. But recent exchanges have shown me that people STILL aren't getting it. Most recently, there have been two themes doing the rounds that…

Paul Krugman's use of the unex­pected phrase 'endogenous money' has moti­vated me to pub­lish, ahead of sched­ule, a model com­par­ing Loan­able Funds to Endoge­nous Money that I promised to pro­vide in the dis­cus­sion on Nick Rowe's blog.

I spoke at a Euromoney conference on inflation-linked products last year. My thesis at the time that deflation is the real problem and that inflation isn't going to be a concern - which has largely proved right - was out of step with most…

There are perhaps more myths about QE than almost any other monetary policy instrument. Here are five of the most pernicious QE myths.