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Week 3 — Lectures 4 & 5, Reading 2
Perry Mehrling's Money and Banking MOOC
Location:
Online
Type:
Other
YSI Presenters
Description
We're discussing the following for week 3:
Lecture 4: The Money View, Micro and Macro
Lecture Notes
Sources and Uses. Flow of funds. Every use of funds has a corresponding source on its own balance sheet (micro) and on someone else's (macro). Assets and liabilities represent commitments of future cashflows.
Lecture 5: The Central Bank as a Clearinghouse :
Lecture Notes
The central bank knits the payment system together by making it behave as if it were one big bank.
Reading 2: The Vision of Hyman P. Minsky by Perry Mehrling
Study Questions
Minsky put the problem of liquidity front and center. This reading is very much tied to the content of Lecture 4, which talks about the survival constraint—An any given point in time, every economic agent must maintain a balance between its cash commitments and its cash inflows. If you can't meet your cash commitments, then you're done. "Liquidity kills you quick."
Hosted by Working Group(s):
Organizers
Attendees
Alex Howlett
Win Monroe
Jennifer Judge
Bethany Burum
Ádám Kerényi
Larissa de Lima
Rok Piletic
Abhinav Saxena
Jesus Uriegas
Bidhan Aryal
Lindsay McGrath
Lindsay McGrath
Chris Rimmer
Ramon Gimenez
Lauren Goodwin
Raphaele Chappe
Celso Gonzalez
Jim Bramlett
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