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Circulation and effective demand: a comment on Nell.
- Source :
- Cambridge Journal of Economics; Jul2006, Vol. 30 Issue 4, p651-656, 6p, 1 Graph
- Publication Year :
- 2006
-
Abstract
- In a recent paper in this Journal, Ed Nell presented a theory of circulation intended to unify 'the theories of money, production, and effective demand'. The current comment uses a very simple leakage and injection approach to arrive at some of Nell's results. In doing so, we are able to correct a small slip in Nell's original paper. More importantly, with the slip corrected, the money supply and multiplier processes are seen to be one and the same. [ABSTRACT FROM AUTHOR]
- Subjects :
- MATHEMATICAL models
CIRCULATION models
MONEY
MACROECONOMICS
ECONOMICS
Subjects
Details
- Language :
- English
- ISSN :
- 0309166X
- Volume :
- 30
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- Cambridge Journal of Economics
- Publication Type :
- Academic Journal
- Accession number :
- 21778495
- Full Text :
- https://doi.org/10.1093/cje/bei108