Search Results for hoarding

...Guy Numa The common narrative about Jean-Baptiste Say’s treatment of money holdings is that he denied the possibility of hoarding. I show that this interpretation of Say’s thinking is erroneous. Drawing upon the various editions of Traité and Cours and other lesser-known texts, I provide...

... represent flows in expenditure; but from the equality-of-exchange perspective, money had to be made of precious metals, thus becoming a storable asset in a portfolio. To overcome this tension, the économistes were to forcefully denounce hoarding and deny money the function of a store of value...

... of a microeconomic appeal to hoarding behavior, why money supply shocks did not lead to interest rate or price level overshooting and empirically outperformed alternative econometric specifications of the money demand function on aggregate data. In its modern form, the theoretical model can be seen...

... in the form of fixed-interest-bearing assets (savings- bank depoFits, life annuities, government bonds, “certificates of funded debt,” and corporation bonds),30 and corporation and under certain conditions, savers might even “hoard what they did save’’ in the form of cash The first category...

.... This is not yet money as a hoard, as it was developed in 1859, neither in its content nor even in its name. When Marx in 1857 analyzes the “original form” of circulation, i .e., C-M-M-C, the third function of money still does not exist (see ibid. 212). The term hoarding was introduced in the Grundrisse...

... Saxony and Thuringia. This turn in fortune happened during the one-and-a-half decades or so before Luther reached his new interpretation of scripture around 1517.5 His writings on indulgences, pilgrimages, and hoarding money reveal a profoundly negative stance on “misallocating” productive funds...

... in hoarding (read: an increase in the demand for money) could affect the money stock: by reducing the amount of reserves and by increasing the currency-deposit ratio. We show how policymakers were successful in offsetting the effect of the increase in hoarding on reserves but did not have the knowledge...

... function as measure of value. When prices are higher, more gold is mined and removed from hoards and alternative uses in order to ‘realize’ these higher prices. The sphere of circulation of commodities ‘absorbs’ only as much money into circulation as it needs to circulate commodities...

... . Principles of political economy in Works and correspondence of David Ricardo , vol. 1 , ed. P. Sraffa with M. Dobb. Cambridge. Robinson , J. 1938 . ‘The concepts of hoarding.’ Economic Journal , June. Robinson , J. 1955 . ‘Marx, Marshall and Keynes.’ Occasional Papers , no. 9, New Delhi...

... . “Saving and Hoarding.” Economic Journal 43 ( 171 ): 399 – 413 . ———. (1940) 1956 . Essays in Monetary Theory . London : Staples Press . ———. 1959 . Lectures on Economic Principles . Vol. 3 . London : Staples Press . Robinson E. A. G. (1946) 1964 . “John Maynard Keynes...

...: Cambridge Economic Handbook. ____. 1926 . Banking Policy and the Price Level . Westminster: P.S. King & Son. ____. 1928 . Money . 2nd ed. Cambridge: Cambridge Economic Handbook. ____. 1933 . Saving and Hoarding. Economic Journal 43.171 : 399 -413. ____. 1934 . Industrial...

..., or, the “loanable funds fallacy.” The point is that loanable funds proponents, pushing the idea that a rise in thrift would have a direct and immediate depressing effect on interest rates, except for the cases of “hoarding” or credit contraction, simply overlook the necessary counterpart to the rise in thrift...

... policy, involving a steady decline in all values, would result in in- creased bank failures, which, in turn, would lead to increased hoarding. Suspensions of specie payments in the past have occurred as a conse- quence of internal rather than external runs on our banking system. Public Expenditures...

... was the problem of “hoarding” and its converse “dishoarding,” which we would have no difficulty nowadays in accepting in Robertson’s defined sense as a shift in the desired money-to-income ratio. It may be noticed in passing that in the hands of Hayek in particular the analysis led to the conclusion...

... effective demand and effective supply (Bernácer 1933: 21). D R A + S + F C = (1) O P E S + B Where D = effective demand; O = effective supply; A = net hoarded reserves in the period; S = increase or decline of real money; F = net bal- ances of fiat money; E = net increment or decline of stocks; B...

... recovery” (Laidler and Sandilands 2002b, 540). Also, they argue, “hoarding took place [in 1931], but it was the hoarding of paper money, not gold, and indicated a loss of confidence in the banks, not in the Government” (543). Ahiakpor / Harvard and Chicago Antidepression Recommendations  553...

... the quantity theory of money and defend the gold standard. Like Say, Taylor ( 1906 : 11, 68) acknowledged that money was more than just a medium of exchange and could be demanded for itself. Money could thus serve as a store of value. Discussing hoarding, he wrote, “Even in a country like the United States...

... of the motives of money hoarding and dishoarding. If the motives for hoarding or dishoarding reflect behavior of economic agents, it is difficult to hold money, and not the economic agents’ behavior, responsible for economic distur- bances. Keesing comes to the conclusion that the use of money...

...- istrative problems of collecting this “surplus” as well as its distribution (Ihya, 2: 108). Without voluntary sharing, he argues, two “blamewor- thy” results will follow: extravagance by some, and miserliness by others. The former leads to deeds, the latter to the hoarding of money or keeping...

... to the unvarying nature of values and of value- producing labor processes. Only on this double basis may interruptions in the circulation of money lead to its use as a reserve value and to the formation of hoards. Hoarding plays a very important role in Marx, both because the vol- ume of circulating...