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dc.contributor.authorErtürk, Korkut A.en
dc.date.accessioned2006-03-10-
dc.date.accessioned2010-05-14T11:08:39Z-
dc.date.available2010-05-14T11:08:39Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/31543-
dc.description.abstractThe sharp exchanges that Keynes had with some of his critics on the loanable funds theory made it harder to appreciate the degree to which his thought was continuous with the tradition of monetary analysis that emanates from Wicksell, of which Keynes's A Treatise on Money was a part. In the aftermath of the General Theory (GT), many of Keynes's insights in the Treatise were lost or abandoned because they no longer fit easily in the truncated theoretical structure he adopted in his latter work. A part of Keynes's analysis in the Treatise which emphasized the importance of financial conditions and asset prices in determining firms' investment decisions was later revived by Minsky, but another part, about the way self-sustained biases in asset price expectations in financial markets exerted their influence over the business cycle, was mainly forgotten. This paper highlights Keynes's early insights on asset price speculation and its link to monetary circulation, at the risk perhaps, of downplaying the importance of the GT.en
dc.language.isoengen
dc.publisher|aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NYen
dc.relation.ispartofseries|aWorking Paper |x435en
dc.subject.jelB22en
dc.subject.jelE12en
dc.subject.jelE4en
dc.subject.ddc330en
dc.subject.keywordKeynesian Monetary Theoryen
dc.subject.keywordLiquidity Preferenceen
dc.subject.keywordWicksellen
dc.subject.keywordMinskyen
dc.subject.keywordAsset Price Speculationen
dc.titleSpeculation, liquidity preference, and monetary circulation-
dc.typeWorking Paperen
dc.identifier.ppn508790573en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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