New-consensus macroeconomic governance in a keynesian world, and the keynesian alternative
The paper presents both the New Consensus and Keynesian equilibrium within the usual four competitive macro-markets structure. It gives theoretical explanations of the pernicious effects that the NCM governance, which has been designed for ergodic stationary regimes, brings about in Keynesian non-er...
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2006 |
| País: | Brasil |
| Recursos: | EDITORA 34 |
| Repositorio: | Revista de Economia Política |
| Idioma: | inglés |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/614 |
| Acesso em linha: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/614 |
| Access Level: | acceso abierto |
| Palavra-chave: | política fiscal governança macroeconômica política monetária pos-keynesiano fiscal policy Macroeconomic governance monetary policy post- Keynesian |
| Resumo: | The paper presents both the New Consensus and Keynesian equilibrium within the usual four competitive macro-markets structure. It gives theoretical explanations of the pernicious effects that the NCM governance, which has been designed for ergodic stationary regimes, brings about in Keynesian non-ergodic regimes. It put forward Keynesian principles of governance which include monetary, budgetary and fiscal instruments, and suggest new directions for the positive and normative analysis of macro-policies. JEL Classification: E10, 12, 13, 60, 61, 62, 63. |
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