Giancarlo Bertocco
Biographic Data
| ID | 6536121 |
|---|---|
| NAME | Giancarlo Bertocco |
| GIVEN NAMES | Giancarlo |
| FAMILY NAME | Bertocco |
| SIGNATURE | BERTOCCO G |
| AFFILIATIONS | University of Insubria |
| ORCID | 0000-0002-2373-4977 |
| VERIFIED | Yes |
| TOTAL WORKS | 7 |
| TOTAL CITATIONS | 7 |
| WORKS AS AUTHOR | 7 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2005 |
| LATEST PUBLICATION YEAR | 2022 |
| H-INDEX | 2 |
A critical analysis of the loanable funds theory
A Keynes + Schumpeter Model to Explain the Relationship Between Money, Development and Crises
Over the years, many economists have underlined the opportunity to integrate the lessons of Keynes and Schumpeter. Recently, Dosi and his co-authors have developed a ‘Keynes + Schumpeter’ model that describes a ‘complex evolving system’. This work presents a different version of a K + S model that highlights the role of bank money in the introduction of innovations, an essential part of Schumpeter’s analysis neglected by Dosi and his co-authors. …
On the Monetary Nature of the Principle of Effective Demand
Since the publication of The General Theory the relationship between money and the principle of effective demand has been a matter of never-ending studies by the Keynesian economists. There are at least three different ways to explain this relationship. The first explanation lies in the liquidity preference theory. The second, points out that the decisions to accumulate a kind of money differing from a commodity obtained by labor may cause a leve…
Great Recession and Macroeconomic Theory
The global financial crisis of 2007–08 and the subsequent Great Recession have pushed many economists to acknowledge a fundamental limit in the theoretical models elaborated after the monetarist counter-revolution: these models disregard the financial system. The years following the Great Recession have thus been marked by the development of what can be called the ‘Financial Frictions Approach’, a theoretical approach based on the addition of the…
On Keynes's Criticism of the Loanable Funds Theory
By accepting the claims of the loanable funds theory, contemporary monetary theory distances itself from Keynes's view of the rate of interest as a monetary phenomenon, and overlooks the arguments Keynes used to respond to the criticism of supporters of the loanable funds theory such as Ohlin and Robertson. This paper argues that the explicit consideration of the finance motive and the role of banks in financing investment does not imply acceptan…
Are banks special? Some notes on Tobin's theory of financial intermediaries
Since the 1960s, Tobin has set himself the objective of developing a macroeconomic model more general than that specified by Keynes in the General Theory. In his work, he explicitely deals with financial intermediaries and elaborates a 'new view' which, in contrast with the 'old view', maintains that there are no reasons to attribute a special role to the banks. This paper critically analyses Tobin's theory and shows that this theory overlooks an…
The Role of credit in a Keynesian monetary economy
This paper describes the features of a monetary economy on the basis of Keynes's distinction between a real exchange economy and a monetary economy. In The General Theory, Keynes identifies the reasons for the non-neutrality of money by highlighting the store of wealth function of money; this approach has been adopted by most Keynesian economists. The aim of this paper is to show that such an approach only partially explains the reasons for money…
A Keynes + Schumpeter Model to Explain the Relationship Between Money, Development and Crises
Over the years, many economists have underlined the opportunity to integrate the lessons of Keynes and Schumpeter. Recently, Dosi and his co-authors have developed a ‘Keynes + Schumpeter’ model that describes a ‘complex evolving system’. This work presents a different version of a K + S model that highlights the role of bank money in the introduction of innovations, an essential part of Schumpeter’s analysis neglected by Dosi and his co-authors. …
On Keynes's Criticism of the Loanable Funds Theory
By accepting the claims of the loanable funds theory, contemporary monetary theory distances itself from Keynes's view of the rate of interest as a monetary phenomenon, and overlooks the arguments Keynes used to respond to the criticism of supporters of the loanable funds theory such as Ohlin and Robertson. This paper argues that the explicit consideration of the finance motive and the role of banks in financing investment does not imply acceptan…
The Role of credit in a Keynesian monetary economy
This paper describes the features of a monetary economy on the basis of Keynes's distinction between a real exchange economy and a monetary economy. In The General Theory, Keynes identifies the reasons for the non-neutrality of money by highlighting the store of wealth function of money; this approach has been adopted by most Keynesian economists. The aim of this paper is to show that such an approach only partially explains the reasons for money…
Great Recession and Macroeconomic Theory
The global financial crisis of 2007–08 and the subsequent Great Recession have pushed many economists to acknowledge a fundamental limit in the theoretical models elaborated after the monetarist counter-revolution: these models disregard the financial system. The years following the Great Recession have thus been marked by the development of what can be called the ‘Financial Frictions Approach’, a theoretical approach based on the addition of the…
The Role of credit in a Keynesian monetary economy
This paper describes the features of a monetary economy on the basis of Keynes's distinction between a real exchange economy and a monetary economy. In The General Theory, Keynes identifies the reasons for the non-neutrality of money by highlighting the store of wealth function of money; this approach has been adopted by most Keynesian economists. The aim of this paper is to show that such an approach only partially explains the reasons for money…
Are banks special? Some notes on Tobin's theory of financial intermediaries
Since the 1960s, Tobin has set himself the objective of developing a macroeconomic model more general than that specified by Keynes in the General Theory. In his work, he explicitely deals with financial intermediaries and elaborates a 'new view' which, in contrast with the 'old view', maintains that there are no reasons to attribute a special role to the banks. This paper critically analyses Tobin's theory and shows that this theory overlooks an…
On Keynes's Criticism of the Loanable Funds Theory
By accepting the claims of the loanable funds theory, contemporary monetary theory distances itself from Keynes's view of the rate of interest as a monetary phenomenon, and overlooks the arguments Keynes used to respond to the criticism of supporters of the loanable funds theory such as Ohlin and Robertson. This paper argues that the explicit consideration of the finance motive and the role of banks in financing investment does not imply acceptan…
Great Recession and Macroeconomic Theory
The global financial crisis of 2007–08 and the subsequent Great Recession have pushed many economists to acknowledge a fundamental limit in the theoretical models elaborated after the monetarist counter-revolution: these models disregard the financial system. The years following the Great Recession have thus been marked by the development of what can be called the ‘Financial Frictions Approach’, a theoretical approach based on the addition of the…
A Keynes + Schumpeter Model to Explain the Relationship Between Money, Development and Crises
Over the years, many economists have underlined the opportunity to integrate the lessons of Keynes and Schumpeter. Recently, Dosi and his co-authors have developed a ‘Keynes + Schumpeter’ model that describes a ‘complex evolving system’. This work presents a different version of a K + S model that highlights the role of bank money in the introduction of innovations, an essential part of Schumpeter’s analysis neglected by Dosi and his co-authors. …
On the Monetary Nature of the Principle of Effective Demand
Since the publication of The General Theory the relationship between money and the principle of effective demand has been a matter of never-ending studies by the Keynesian economists. There are at least three different ways to explain this relationship. The first explanation lies in the liquidity preference theory. The second, points out that the decisions to accumulate a kind of money differing from a commodity obtained by labor may cause a leve…
A critical analysis of the loanable funds theory
Economic Theory and Policy (7 works) · Economics (7 works) · Keynesian economics (7 works) · Monetary policy (7 works) · Macroeconomics (6 works) · Economic theories and models (4 works) · Economic Theory and Institutions (4 works) · Monetary economics (4 works) · Neoclassical economics (4 works) · Liquidity preference (3 works)