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All Outputs (3)

Do Shadow Banks Create Money? ‘Financialisation’ and the Monetary Circuit (2016)
Journal Article
Michell, J. (2017). Do Shadow Banks Create Money? ‘Financialisation’ and the Monetary Circuit. Metroeconomica, 68(2), 354-377. https://doi.org/10.1111/meca.12149

© 2016 John Wiley & Sons Ltd The rise of the shadow banking system is viewed through the theoretical lens of Graziani's Monetary Theory of Production. Graziani's categories of ‘initial finance’ and ‘final finance’ are used to analyse the new forms... Read More about Do Shadow Banks Create Money? ‘Financialisation’ and the Monetary Circuit.

Pseudo-Goodwin cycles in a Minsky model (2016)
Journal Article
Stockhammer, E., & Michell, J. (2017). Pseudo-Goodwin cycles in a Minsky model. Cambridge Journal of Economics, 41(1), 105-125. https://doi.org/10.1093/cje/bew008

© The Author 2016. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved. Goodwin cycles result from the dynamic interaction between a profit-led demand regime and a reserve army effect in inco... Read More about Pseudo-Goodwin cycles in a Minsky model.