tag:blogger.com,1999:blog-5362801348602268473.post6609741806384678330..comments2023-11-22T00:49:32.887-08:00Comments on Reflections on Monetary Economics: Bank Lending and Non-Bank Lending - A ModelNick Edmondshttp://www.blogger.com/profile/15342983814699700396noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5362801348602268473.post-13657979377457685432013-07-31T08:00:56.915-07:002013-07-31T08:00:56.915-07:00I'm assuming here that all income is paid to h...I'm assuming here that all income is paid to households either as wages or distributed profit. It's not essential to what I'm saying, but it avoids complications. I'm sorry - I didn't make it it clear.Nick Edmondshttps://www.blogger.com/profile/15342983814699700396noreply@blogger.comtag:blogger.com,1999:blog-5362801348602268473.post-13261902058847184852013-07-30T16:09:53.872-07:002013-07-30T16:09:53.872-07:00But 'Y' is not obviously household income,...But 'Y' is not obviously household income, it is firm income, since 'I' is not an explicit flow to the households. It's confusing that there are no wage or profit flows that define household income properly.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5362801348602268473.post-46026289190229372582013-07-28T09:28:13.542-07:002013-07-28T09:28:13.542-07:00Thank you. Really, though, I think that a lot of ...Thank you. Really, though, I think that a lot of it comes down to having a good framework to look at these things with. Wynne Godley's balance sheet approach and Tobin's portfolio allocation model just makes this stuff so much easier to think about. Whenever I come across some theory in this area, I always try and put it into these terms to better understand it.<br />Nick Edmondshttps://www.blogger.com/profile/15342983814699700396noreply@blogger.comtag:blogger.com,1999:blog-5362801348602268473.post-34313620645260690252013-07-28T00:40:29.871-07:002013-07-28T00:40:29.871-07:00Very fine post Nick. It is amazing how only a few ...Very fine post Nick. It is amazing how only a few people know these things and you know it well! Ramananhttp://www.concertedaction.comnoreply@blogger.com