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Temas de política monetária: uma perspectiva pós-keynesiana

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Author Info
Gilberto A. Libanio ()

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Abstract

This paper discusses central banking and the operation of monetary policy from a post-Keynesian perspective. It examines some current propositions concerning the conduct of monetary policy - such as inflation targets, contingent rules, and central bank independence - under the assumption that money is endogenous and non neutral in the long run. Therefore, the paper provides a framework to analyze current issues in monetary policy under the post-Keynesian approach. The main implications of the analysis are related to the necessity of coordination among different macroeconomic policies, to the relevance of negative long run effects from contractionary policies, and to the importance of targeting real variables such as employment and output.

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File URL: http://www.cedeplar.ufmg.br/pesquisas/td/TD%20229.pdf
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Publisher Info
Paper provided by Cedeplar, Universidade Federal de Minas Gerais in its series Textos para Discussão Cedeplar-UFMG with number td229.

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Length: 22 pages
Date of creation: Mar 2004
Date of revision:
Handle: RePEc:cdp:texdis:td229

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Postal: Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil

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Related research
Keywords: post-Keynesian theory; monetary policy; central banking;

Find related papers by JEL classification:
E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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This page was last updated on 2009-11-18.

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