The New Consensus and Post-Keynesian Interest Rate Policy
Datos Bibliográficos
| ID | 12229488 |
|---|---|
| Autores | Claude Gnos (Université de Bourgogne), Louis‐philippe Rochon (0000-0002-8542-7497, Laurentian University, autor de correspondencia) |
| Año | 2007 |
| Volumen | 19 |
| Número | 3 |
| Páginas | 369-386 |
| Fecha de publicación | 2007-07-01 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | Review of Political Economy (JOURNAL) |
| Identificadores de la revista | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Editorial | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/09538250701453071 |
| OpenAlex | W1995425395 |
| Idioma | EN |
| Citas recibidas | 10 |
| Referencias citadas | 37 |
This paper outlines the fundamental arguments of the New Consensus, critiques it from a Post-Keynesian perspective, and offers a Post-Keynesian alternative to the Taylor Rule. While Post-Keynesian economics provides a theory of endogenous money with exogenous interest rates, it has no clear description of a central bank reaction function. We attempt to remedy this oversight by identifying some of the difficulties attached to developing a Post-Keynesian reaction function, and suggesting an approach to the setting of interest rates that is more consistent than the Taylor Rule with Keynes's General Theory
Central bank · Economics · Function (biology · Interest rate · Keynesian economics · Macroeconomics · Monetary policy · New Keynesian economics · Nominal interest rate · Perspective (graphical · Post-Keynesian economics · Real interest rate · Taylor rule · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
Towards a New Synthesis
A Note on Krugman’s Liquidity Trap and Monetary Policy at the Zero Lower Bound
Dealing with Rising Inequality
The Political (and Monetary) Aspects of Full Employment
Real and Monetary Theories of the Interest Rate
Understanding Central Bank Independence
The Structure–Agency Relation of Growth Imperative Hypotheses in a Credit Economy
Distributional Regimes in the US — The Pasinetti Index and the Monetary Policy Effects on Income Distribution
Macroeconomic Policy Mix, Employment and Inflation in a Post-Keynesian Alternative to the New Consensus Model
Harrod-Domar Dilemma, Thirlwall’s Law and Green New Developmentalism
Horizontalists and Verticalists
Discretion versus policy rules in practice
Financing Constraints and Corporate Investment
The Financial Accelerator and the Flight to Quality
Horizontalism, Structuralism, Liquidity Preference and the Principle of Increasing Risk
Firm Heterogeneity, Internal Finance, and `Credit Rationing
Controversies in Monetary Economics
Credit Rationing and Effective Supply Failures
On the Effectiveness of Monetary Policy and of Fiscal Policy
Keynesian Macroeconomics without the LM Curve
Inside the Black Box
Credit, Money and Production
| Obras citantes distintas | 10 |
|---|---|
| Citas por año | 0,63 |
| Intervalo de citas | 2010 - 2025 (16) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 10 |