Sawyer, M orcid.org/0000-0002-4565-5276 and Veronese Passarella, M
(2017)
The monetary circuit in the age of financialisation. A stock-flow consistent model with a twofold banking sector.
Metroeconomica, 68 (2).
pp. 321-353.
ISSN 0026-1386
Abstract
The paper explores how the Theory of Monetary Circuit can be developed to reflect some important features of the evolution of the financial system in the past three decades, which have been associated with what may be termed ‘financialisation.’ For this purpose, we embed the benchmark single-period monetary circuit scheme proposed by Graziani in a richer set of institutional arrangements. The stock-flow consistent modelling technique pioneered by Godley and Lavoie is used to support our narrative.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2015 John Wiley & Sons Ltd. This is the peer reviewed version of the following article: Sawyer, M and Veronese Passarella, M (2015) The monetary circuit in the age of financialisation. A stock-flow consistent model with a twofold banking sector. Metroeconomica, which has been published in final form at http://dx.doi.org/10.1111/meca.12103. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving. |
Keywords: | Financialisation, Theory of Monetary Circuit, Stock-Flow Consistent Models |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 24 Nov 2015 12:51 |
Last Modified: | 11 Oct 2017 11:31 |
Published Version: | http://dx.doi.org/10.1111/meca.12103 |
Status: | Published |
Publisher: | Wiley |
Identification Number: | 10.1111/meca.12103 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:92172 |