Money and credit in a Keynesian model of income determination
将威克塞尔货币信贷理论与凯恩斯收入决定理论整合，通过六十方程模型模拟证明货币供给与需求不可分离，对主流宏观教学和新古典范式构成挑战。
This paper formally integrates the theory of money and credit derived ultimately fiom Wicksell into the Keynesian theory of income determination, with assets allocated according to Tobinesque principles.The model deployed has much in common with the modern "endogenous money" school initiated by Kaldor which emphasises the essential role played by credit in any real life economy, since production takes time and the future is always uncertain.New ground is broken methodologically because all the propositions are justified by simulations of a rigorous (sixty equation) model, making it possible to pin down exactly why the results come out as they do.One conclusion of the paper is that there is no such thing as a supply of money distinct from the money which agents wish to hold, or find themselves holding.This finding is inimical, possibly in the end lethal, to the way macroenomics is currently taught as well as to the neo-classical paradigm itself.