I would like to thank Gregory Moore, Martin Watts, Michael White, Sisira Jayasuriya and two anonymous referees for their comments and suggestions. Of course, any errors remain the responsibility of the author.
THE POST-KEYNESIAN ‘DEMAND FOR CREDIT’ MODEL†
Article first published online: 19 MAR 2008
1997 BLP/University of Adelaide/Finders University
Australian Economic Papers
Volume 36, Issue 68, pages 127–143, June 1997
How to Cite
HEWITSON, G. (1997), THE POST-KEYNESIAN ‘DEMAND FOR CREDIT’ MODEL. Australian Economic Papers, 36: 127–143. doi: 10.1111/j.1467-8454.1997.tb00826.x
- Issue published online: 19 MAR 2008
- Article first published online: 19 MAR 2008
The post-Keynesian ‘demand for credit’ model is a well-cited piece of empirical evidence to support the contention that the money supply is endogenously rather than exogenously determined. In this paper, the model is critically examined and found to be problematic in several ways. Cointegration techniques are used to estimate a similar model using Australian data.