Complexity, Endogenous Money And Macroeconomic Theory : Essays in Honour Of Basil J. Moore

List of contributors viii Foreword ix G.C. Harcourt Preface xi Acknowledgements xii A tribute to Basil J. Moore and an introduction to Complexity, Endogenous Money and Macroeconomic Theory 1(20) Mark Setterfield PART I ECONOMIC CONCEPTS, TOOLS AND PATH METHODOLOGY Accounting identities: more than just bookkeeping conventions 21(15) Claude Gnos The need and some methods for dynamic modelling in Post Keynesian economics 36(27) Steve Keen PART II COMPLEXITY, UNCERTAINTY AND PATH DEPENDENCE The complex problem of modelling economic complexity 63(11) Richard Day Complex dynamics and Post Keynesian economics 74(25) J. Barkley Rosser, Jr. Corridor of viability: complexity analysis for enterprise and investment 99(20) Jerry Courvisanos Colin Richardson Effective demand and endogenous money in a path-dependent economy: towards a `Moorian' credit supply curve -- and a reconciliation between horizontalists and structuralists? 119(22) Mark Setterfield PART III THE MACROECONOMICS OF ENDOGENOUS MONEY Exogenous versus endogenous money: the conceptual foundations 141(9) Paul Davidson The endogeneity of money and the Eurosystem: a contribution to the theory of central banking 150(20) Otto Steiger Endogenous money, central banks and the banking system: Basil Moore and the supply of credit 170(17) Louis-Philippe Rochon The demand for endogenous money: a lesson in institutional change 187(15) Peter Howells Tax-driven money: additional evidence from the history of economic thought, economic history and economic policy 202(19) Mathew Forstater Monetary policy when money is endogenous 221(15) Philip Arestis Malcolm Sawyer ICT, financial innovation and monetary policy: some critical considerations 236(15) Claudio Sardoni Features of a realistic banking system within a Post-Keynesian stock-flow consistent model 251(20) Marc Lavoie Wynne Godley PART IV THE MACROECONOMICS OF EXOGENOUS INTEREST RATES When are interest rates exogenous? 271(19) L. Randall Wray Exogenous interest rates and modern monetary theory and policy: Moore in perspective 290(16) Colin Rogers Gradualism in the adjustment of official interest rates: some partial explanations 306(31) Charles Goodhart PART V UNEMPLOYMENT, INFLATION AND THE DETERMINATION OF AGGREGATE INCOME Limitations to Keynesian demand management through monetary policy: whither Cartesian policy control? 337(16) Arne Heise Telling better stories in macroeconomic textbooks: monetary policy, endogenous money and aggregate demand 353(15) Giuseppe Fontana Institutionalist-Post Keynesian economics and the Post Monetarist new consensus 368(21) Chris Niggle A future for Keynesian macroeconomics 389(18) Wendy Cornwall John Cornwall Selected works 407(4) Basil J. Moore Index 411