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Critical macro-finance, Post Keynesian monetary theory and emerging economies

Published online by Cambridge University Press:  09 November 2023

Bruno Bonizzi  and
Annina Kaltenbrunner
Bruno Bonizzi*
Affiliation:
University of Hertfordshire, UK
Annina Kaltenbrunner
Affiliation:
University of Leeds, UK
*
Corresponding author: Bruno Bonizzi, HertfordshireBusiness School, University of Hertfordshire, Hatfield AL10 9AB, UK. Email:b.bonizzi@herts.ac.uk.
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In our contribution to this forum, we suggest that critical macro-finance (CMF) scholars and Post Keynesian monetary theorists would profit from a more explicit engagement with each other. Post Keynesian scholars would benefit from the detailed empirical insights that CMF provides, particularly through its analysis of non-bank financial institutions and the conceptual focus on liquidity and liabilities. Meanwhile, the CMF literature would benefit from more explicit grounding in earlier Post Keynesian concepts. In particular, the theory of liquidity preference, the concept of the liquidity premium, and the theory of endogenous money highlight macroeconomic issues missing from CMF scholarship.

Type
Forum: Critical macro-finance
Information
Finance and Society , Volume 6 , Issue 1 , 2020 , pp. 76 - 86
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-No Derivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits noncommercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.
Copyright
© 2020 The Author(s)

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