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Week 3 — Lectures 4 & 5, Reading 2

Perry Mehrling's Money and Banking MOOC

Start time:

June 3, 2021 @ 6:00 pm - 7:00 pm

Virtual Project Virtual Project
project Series Event Series (See All)

EDT

Location:

Online

Type:

Other

project Series Event Series (See All)
Virtual Project Virtual Project

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."

Money and Banking Summer 2021 Reddit Master Thread

Hosted by Working Group(s):

Organizers

Attendees

Bidhan Aryal

Jim Bramlett

Celso Gonzalez

Raphaele Chappe

Lauren Goodwin

Ramon Gimenez

Chris Rimmer

Lindsay McGrath

Lindsay McGrath

Alex Howlett

Jesus Uriegas

Abhinav Saxena

Rok Piletic

Larissa de Lima

Ádám Kerényi

Bethany Burum

Jennifer Judge

Win Monroe