Munich Personal RePEc Archive

Macro Micro Model with a Post-keynesian Perspective in the banking industry

cho, hyejin (2014): Macro Micro Model with a Post-keynesian Perspective in the banking industry.

[img]
Preview
PDF
MPRA_paper_56119.pdf

Download (345kB) | Preview

Abstract

This article introduces the cascaded individual model of Post-keynesian economics. This differs from the representative agent model of the old-keynesian model mathematically and methodologically. The model builds from five assumptions containing original concepts: cascaded individuals, a social planner vs a regulator, aggregate deposits (stock) vs pyroclastic deposits (flow). Mainly, this Macro-Micro approach of Post-keynesian concepts suggests the regulation of the money flow. Then, this paper articulates fundamental concepts to solve problems of a sudden "micro" financial shock in the short run with the long run "macro" stabilization with a balanced perspective between macroeconomics and microeconomics.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.