EC6012 Lecture 3
Stephen Kinsella
Model
Homework & Blogs
EC6012 Lecture 3 References
Endogenous Credit Money
Stephen Kinsella
Dept. Economics,
University of Limerick.
stephen.kinsella@ul.ie
January 18, 2008

Today EC6012 Lecture 3
Stephen Kinsella
Model
Homework & Blogs
References
Model
Homework & Blogs

Exogenous vs. Endogenous Money Stories EC6012 Lecture 3
Stephen Kinsella
Simple −→ Complex Model
Homework & Blogs
References

Primer EC6012 Lecture 3
Stephen Kinsella
Setup Model
Homework & Blogs
A pure credit economy References
Payments through debit balances
Credit
Bank Notes
Banks with Dividends
Banks with own funds & real assets
2 Banks, Pure Credit Economy.

Next Steps EC6012 Lecture 3
Stephen Kinsella
What’s Next? Model
Homework & Blogs
Open Economy References
Government Intervention through transfers

Data EC6012 Lecture 3
Stephen Kinsella
Model
Homework & Blogs
References

For Next Week EC6012 Lecture 3
Stephen Kinsella
Read Godley and Lavoie (2006), Chapter 2, Godley
Model
(1999) if you have time. Homework & Blogs
Homework, see stephenkinsella.net. Due next week. References

References EC6012 Lecture 3
Stephen Kinsella
Wynne Godley. Money and credit in a keynesian model of Model
income determination. Cambridge Journal of Economics, Homework & Blogs
23(2):393–411, April 1999. References
Wynne Godley and Marc Lavoie. Monetary Economics An
Integrated Approach to Credit, Money, Income,
Production and Wealth. Palgrave-Macmillan, 2006. URL
http://www.palgrave.com/products/Catalogue.
aspx?is=0230500552.