Post-Keynesian Principles of Economic PolicyClaude Gnos, Louis-Philippe Rochon Post-Keynesian economics is moving beyond criticism of mainstream economics and is focusing on providing a positive alternative to orthodoxy. This book gathers carefully selected and original papers by a number of distinguished post-Keynesian writers from Europe and the Americas and converges on the principles that should guide post-Keynesian economic policy in the 21st century. The policy prescriptions examined and discussed in this book include the New Consensus, inflation targeting, fiscal and monetary policies to name but a few. It puts forth a coherent approach to policy and is divided into three components: monetary policy, fiscal policy and effective demand, and international issues, including discussion of currency boards, dollarization and the EMU. The contributors aim to emphasize the post-Keynesian ability to provide renewed principles of economic policy in contrast with the failures of the mainstream approach. Scholars and researchers of economics and political economy at all levels will find much to engage them within this book. |
Contents
Interest Rates and the Real Economy | 3 |
A PostKeynesian Approach | 21 |
1 | 27 |
Copyright | |
19 other sections not shown
Other editions - View all
Common terms and phrases
aggregate demand approach asset prices balance sheet banking spread behaviour Brazil Brazilian budget capital cent central bank changes chapter Chartalists Circuitists common currency consensus constraint convergence costs countries currency board current account debt deficit dollar economic policy Edward Elgar effects endogenous money Equation equilibrium euro European exogenous expenditures external balance Federal firms fiscal policy fixed exchange rates foreign banks foreign exchange framework full employment global impact income increase inflation rate inflation targeting institutional interest rate policy investment Keynes Keynes's labour market Lavoie liabilities loans long-run macroeconomic mainstream monetary authority monetary policy money endogeneity money supply NAIRU nominal nominal interest rate output Palley Phillips curve Post Keynesian Economics Post-Keynesian potential output private sector production profits rate of inflation rate of interest rentiers reserves result Rochon seigniorage short-term single currency spending stability surplus taxes theory trade variable wage Wicksellian Wray