케인즈 화폐수요의 금융적 동기와 그 논쟁에 관한 연구: 기업경영자의 투자 관점에서 = A Study on the Financial Motive of Demand for Money: The Perspective of the Investment from CEO

다국어 초록 (Multilingual Abstract)

Post Keynesian deal with the so-called finance in many different ways. It seems quite clear that they deploy the same notion of 'finance' in mutually incompatible cases. Responding to the critique that multiplier process is deterred by the deficiency of saving, they retort that 'finance' is revolving fund, which has nothing to do with saving. According to this explication, the main function of 'finance' in nothing other than making investment possible. On the other hand, some post Keynesians delineate 'finance' as a link between real monetary sectors. Emphasizing the interdependence between real and monetary sectors, they argue that demand for money is not independent of the events in the real sector. Their argument, however, entails that the multiplier effect is decreasing. In addition, the so-called endogenous money theorists, who are opposed to the liquidity preference theory, put a stress on 'finance' in order to make an argument that Keynes was an endogenous money theorist. At this juncture, it is worthwhile to point out that Keynes make use of 'finance' to defend his liquidity preference theory.

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