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Post-Keynesian Interest Rate Rules and Macroeconomic Performance: A Comparative Evaluation

In: Credit, Money and Macroeconomic Policy

Author

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  • Louis-Philippe Rochon
  • Marc Setterfield

Abstract

With recent turmoil in financial markets around the world, this unique and up-to-date book addresses a number of challenging issues regarding monetary policy, financial markets and macroeconomic policy.

Suggested Citation

  • Louis-Philippe Rochon & Marc Setterfield, 2011. "Post-Keynesian Interest Rate Rules and Macroeconomic Performance: A Comparative Evaluation," Chapters, in: Claude Gnos & Louis-Philippe Rochon (ed.), Credit, Money and Macroeconomic Policy, chapter 7, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13254_7
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    File URL: https://www.elgaronline.com/view/9781848440678.00014.xml
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    References listed on IDEAS

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    1. L. Wray, 2007. "A Post Keynesian view of central bank independence, policy targets, and the rules versus discretion debate," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 119-141.
    2. Philip Arestis & Malcolm Sawyer, 2005. "Reinventing Fiscal Policy," Palgrave Macmillan Books, in: Blandine Laperche & Dimitri Uzunidis (ed.), John Kenneth Galbraith and the Future of Economics, chapter 9, pages 105-125, Palgrave Macmillan.
    3. Gerald Epstein, 2003. "Alternatives to Inflation Targeting Monetary Policy for Stable and Egalitarian Growth: A Brief Research Summary," Working Papers wp62, Political Economy Research Institute, University of Massachusetts at Amherst.
    4. Wynne Godley & Marc Lavoie, 2012. "Fiscal Policy in a Stock-Flow Consistent (SFC) Model," Palgrave Macmillan Books, in: Marc Lavoie & Gennaro Zezza (ed.), The Stock-Flow Consistent Approach, chapter 9, pages 194-215, Palgrave Macmillan.
    5. Richard C. K. Burdekin & Paul Burkett, 1996. "Distributional Conflict and Inflation," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37173-6.
    6. Mark Setterfield (ed.), 2002. "The Economics of Demand-Led Growth," Books, Edward Elgar Publishing, number 1864.
    7. Steven M. Fazzari & R. Glenn Hubbard & Bruce C. Petersen, 1988. "Financing Constraints and Corporate Investment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(1), pages 141-206.
    8. Marc Lavoie, 1992. "Foundations of Post-Keynesian Economic Analysis," Books, Edward Elgar Publishing, number 275.
    9. Setterfield, Mark, 2007. "The rise, decline and rise of incomes policies in the US during the post-war era: an institutional-analytical explanation of inflation and the functional distribution of income," Journal of Institutional Economics, Cambridge University Press, vol. 3(2), pages 127-146, August.
    10. Rogers,Colin, 1989. "Money, Interest and Capital," Cambridge Books, Cambridge University Press, number 9780521359566.
    11. Mark Setterfield, 2009. "Fiscal and monetary policy interactions: lessons for revising the EU Stability and Growth Pact," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 31(4), pages 623-643, July.
    12. Louis-Philippe Rochon & Mark Setterfield, 2007. "Interest rates, income distribution, and monetary policy dominance: Post Keynesians and the "fair rate" of interest," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 13-42.
    13. Thomas Palley, 2007. "Macroeconomics and monetary policy: competing theoretical frameworks," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 61-78.
    14. Thomas I. Palley, 1996. "Post Keynesian Economics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37412-6.
    15. Frederic S. Mishkin, 2002. "Does inflation targeting matter? - commentary," Review, Federal Reserve Bank of St. Louis, vol. 84(Jul), pages 149-154.
    16. Claude Gnos & Louis-Philippe Rochon (ed.), 2011. "Credit, Money and Macroeconomic Policy," Books, Edward Elgar Publishing, number 13254.
    17. Louis-Philippe Rochon & Mark Setterfield, 2008. "The Political Economy of Interest-Rate Setting, Inflation, and Income Distribution," International Journal of Political Economy, Taylor & Francis Journals, vol. 37(2), pages 5-25.
    18. Louis-Philippe Rochon, 1999. "Credit, Money and Production," Books, Edward Elgar Publishing, number 1565.
    19. Mark Setterfield, 2006. "Balancing the Macroeconomic Books on the Backs of Workers: A Simple Analytical Political Economy Model of Contemporary U.S. Capitalism," International Journal of Political Economy, Taylor & Francis Journals, vol. 35(3), pages 46-63.
    20. Louis-Philippe Rochon, 2007. "The state of Post Keynesian interest rate policy: where are we and where are we going?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 3-11.
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    Cited by:

    1. Esteban Pérez Caldentey & Matías Vernengo, 2013. "Is inflation targeting operative in an open economy setting?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 1(3), pages 347-369, January.
    2. Angel Asensio, 2008. "(Post) Keynesian alternative to inflation targeting," Post-Print halshs-00335560, HAL.

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