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MK versus C ff- I : a synthesis? - In this note, an attempt is made to formalize an idea suggested by J. Pen in 1961, which provides a synthesis of the monetary and expenditure approach to macro-economics. Using a Robertsonian lag between consumption and income, and filling the resulting investment-savings gap by money creation, we obtain a model which can be solved in two possible ways, corresponding to whether we assume investment or money supply to be exogenous.
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How to Cite: Van Rijckeghem, W. (1969) “MV versus C+1: een synthese?”, Tijdschrift voor Sociale Wetenschappen. 14(3). doi: https://doi.org/10.21825/tvsw.95835