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AALejournalIMF010539 |
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|c 15.00 USD
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|z 9781451956337
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|a 1020-7635
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
|b Research Dept.
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|a IMF Staff papers :
|b Volume 19 No. 1.
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| 264 |
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1972.
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|a 1 online resource (274 pages)
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|a IMF Staff Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper focuses on current issues on the transmission process of monetary policy. The main process by which monetary forces influence the real economy in Keynesian income/expenditure models is through the cost-of-capital channel. In addition to the cost-of-capital channel, post-Keynesians also recognized two other channels, namely, the wealth effect on consumption expenditure and the credit rationing linkage between the financial and real sectors. One of the most significant post-Keynesian developments has been the emphasis on net private wealth as well as income as a factor influencing real flows of expenditures. The flow of services of outside money is the saving of time in barter transactions, which stems from the role of money as a medium of exchange. The saving of time may be used either for leisure or to produce capital goods. A fundamental and basic development in monetary theory subsequent to Keynes' liquidity preference theory has been the capital theoretic formulation of the demand for money.
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|a Mode of access: Internet
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|a IMF Staff Papers; IMF Staff Papers ;
|v No. 1972/001
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/024/1972/001/024.1972.issue-001-en.xml
|z IMF e-Library
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