Sticky Textbooks in the Teachings of the Money Supply
April 19, 2009 martijnboermans 8 other publications
This research paper investigates 30 macroeconomic textbooks and argues that the endogenous money supply position is insuffiently treated in the text books. We refer to current developments in the endogenous money paradigm (EMP) and Post-Keynesian economics literature. We argue that text books are sticky and locked-in old style monetarism teaching and neglect that the Central Bank sets interest rates, making the money supply endogenous and not exogenous (as in the macro economic undergraduate textbooks)
This research paper investigates 30 macroeconomic textbooks and argues that the endogenous money supply position is insuffiently treated in the text books. We refer to current...
