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Date: | Fri Mar 31 17:18:33 2006 |
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================== HES POSTING ======================
[A graduate student has posed the following questions to the HES "ask the
prof" service. I figured others could answer them better than I. Responses
posted here will be included in my response to the grad student. -- RBE]
I wish to ask you a few of questions relating to the meaning of "money
market" in "The General Theory".
What is Keynes's money market? (1) Does it belong to the market which
exits in reality? (2) If so, is it call market or security market? (3) If
it belongs to bond market, is it an issuance market or a secondary market?
(4) Otherwise, is it a mere ideal concept which represent the movement of
bond market? (5) What is the relation between "money market" and "bond"
market? I guess one of them -- the money market? -- is residul. (6) As a
related question, whether money interest rate is determined in the money
market or the bond market is also obscure to me. I want to see not only
the answer to these questions, but also the logic behind it. Thank you.
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