EQUILIBRIUM IN THE MONEY MARKET: A COMPARATIVE ANALYSIS OF CLASSICAL AND KEYNESIAN THEORIES
DOI:
https://doi.org/10.55640/Keywords:
Classical theory, Keynesianism, demand for money, supply of money, banking multiplier, monetary multiplier, IS-LM model, Say’s Law, money neutrality, liquidity. The concept of equilibrium in the money market constitutes a cornerstone of macroeconomics,Abstract
This article offers a detailed comparative examination of the perspectives held by classical and Keynesian schools of economic thought regarding the demand and supply of money, equilibrium within the money market, and the operational dynamics of the banking system through monetary and banking multipliers. Particular emphasis is placed on exploring the theoretical underpinnings of the classical approach, including Say’s Law, the notion of money neutrality, and the role of liquidity, alongside the incorporation of IS-LM models within both frameworks. The juxtaposition of these theoretical perspectives highlights fundamental disparities in interpreting the role of money in economic systems and the mechanisms facilitating market equilibrium.
Downloads
References
1.Kamillova, N. A. Macroeconomics: A Study Guide. – Samarkand: “Star-Sel,” 2022. – 262 p.
2.Blavatskaya, O. A. Macroeconomics: Classical and Keynesian Models. – Moscow: Infra-M, 2022.
3.Keynes, J. M. The General Theory of Employment, Interest, and Money. – Moscow: HELIOS ARV, 2021.
4.Fisher, I. The Purchasing Power of Money. – Moscow: Eksmo, 2020.
5.Soros, G. The Alchemy of Finance. – Moscow: Alpina Publisher, 2022.
6.Mankiw, N. G. Principles of Macroeconomics. – St. Petersburg: Piter, 2023.
7.Samuelson, P., Nordhaus, W. Economics. – McGraw-Hill Education, 2022.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.
Germany
United States of America
Italy
United Kingdom
France
Canada
Uzbekistan
Japan
Republic of Korea
Australia
Spain
Switzerland
Sweden
Netherlands
China
India
