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Keen Behavioural Finance 2011 Lecture 07 Endogenous Money Part 2

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Published on Sep 15, 2011

Though the basic ideas of the Monetary Circuit are brilliant, when it came to turning these into a model of the monetary circuit, the Circuitists made numerous errors that were the result of them not knowing how to model a dynamic process. I outline these errors and then introduce the basic tool of dynamic modelling, the differential equation.

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