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SUMMARY:The economic limits of the ‘originate to distribute’ model  - 
 Professor Oscar Dejuan\, Universidad de Castilla-La Mancha
DTSTART:20160127T160000Z
DTEND:20160127T170000Z
UID:TALK63375@talks.cam.ac.uk
CONTACT:Clare Eaves
DESCRIPTION:As students\, we learnt that the financial system is a satelli
 te that moves around the planet (the real economy). What happens when the 
 satellite becomes bigger than the planet and takes the lead in innovation?
  This is the result of the current financialization process based on the c
 onnivance between traditional banking (able to create credit-money out of 
 nothing) and the shadow banking (that uses this liquidity to multiply asse
 t-based-securities disguising their risks). In this paper we analyze the e
 conomic limits to the “originate to distribute model” and show the con
 sequences of surpassing them.  We complete the postKeynesian model by sepa
 rating the circuit of output transactions (where credit-money is endogenou
 s) and the circuit for non-output transactions (where credit is exogenous 
 and generates asset bubbles).  Our main proposal is to discriminate the re
 gulation of credit according to their allocation. The purchase of assets w
 ith credit should be banned.   \n\n\nBiography:\n\nOscar Dejuan is Profess
 or of Economics at the University of Castilla – La Mancha\, Spain. Durin
 g the academic year 2015-16 he is a Visitor to the Department of Land Econ
 omy in the University of Cambridge. He learnt Economics from the history o
 f economic thought. His personal synthesis combines the Classical-Sraffian
  theory of value and distribution and the postKeynesian theory of output a
 nd money.  He has applied these theories in the analysis of growth and cri
 sis. His expertise in input-output economics has enabled him to analyze ot
 her relevant topics such as energy demand and CO2 emissions.
LOCATION:Mill Lane Lecture Room 1
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