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The neutral rate of interest and a new monetary policy rule

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Author Info
H. Sonmez Atesoglu
Abstract

In this paper, a new monetary policy rule is introduced. The proposed rule is based on Keynes's neutral rate of interest idea, a concept defined in the General Theory. The primary goal of the proposed rule is to ensure that the macroeconomy produces an output equal to its full-employment level. Monetary policy implied by the proposed rule is compared with the actual monetary policy in recent years.

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Publisher Info
Article provided by M.E. Sharpe, Inc. in its journal Journal of Post Keynesian Economics.

Volume (Year): 29 (2007)
Issue (Month): 4 (July)
Pages: 689-697
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Handle: RePEc:mes:postke:v:29:y:2007:i:4:p:689-697

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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348

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Related research
Keywords: monetary policy; monetary policy rules; neutral rate of interest;

Cited by:
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  1. Angel Asensio, 2008. "(Post) Keynesian alternative to inflation targeting," Post-Print halshs-00335560_v1, HAL. [Downloadable!]
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This page was last updated on 2009-12-19.

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