Money and credit in a Keynesian model of income determination
将威克塞尔传统的货币与信贷理论融入凯恩斯收入决定模型，通过六十方程模拟证明货币供给并非独立于需求，对主流宏观经济学教学和新古典范式构成挑战。
This paper formally integrates the theory of and credit derived ultimately from 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 emphasis 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 distinct from the which agents wish to hold, or find themselves holding. This finding is inimical, possibly in the end lethal, to the way macroeconomics is currently taught as well as to the neo-classical paradigm itself.