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Credit and real activity - a disequilibrium dynamics perspective

Objective



In contrast with the usual view, the topic of my dissertation is strongly rooted in the idea that monetary factors and credit do affect the dynamics of economic systems through the process of production and investment financing In this context, these factors cannot be ruled out in the explanation of the emergence and persistence of macroeconomic real disequilibria which are unavoidable within the process of economic evolution.
This view obviously contrasts with the traditional one which considers economic dynamics based on the assumption of medium or long run neutrality of money and credit.
Moreover, our view might shed a different light on economic policy matters like, for example, credit creation regulation or distribution within the economic system. Therefore, our perspective will certainly draw the attention of readers on a more complex approach of economic policy including the question of Central Banks autonomy.

Funding Scheme

RGI - Research grants (individual fellowships)

Coordinator

UNIVERSITÀ DEGLI STUDI DI SIENA
Address
Piazza San Francesco 17
53100 Siena
Italy

Participants (1)

Not available
France