Routes of money endogeneity: A heuristic comparison

Research output: Contribution to journalArticlepeer-review


The paper sets up an analytical framework that is based on simplified balance sheets of the banking, the non-banking private and the government sectors, in order to identify four primary routes through which money can be generated endogenously and to discuss their characteristics. These routes approximate, if not precisely correspond to, the post-Keynesian accommodationist and structuralist views, the New Keynesian credit view ('bank lending channel'), and a hybrid one, respectively.

Original languageEnglish
Pages (from-to)685-704
Number of pages20
JournalCambridge Journal of Economics
Issue number4
Publication statusPublished - 2011 Jul 1


  • Accommodationist
  • Money endogeneity
  • New Keynesian
  • Post-keynesian
  • Structuralist

ASJC Scopus subject areas

  • Economics and Econometrics


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