Economic consequences of the financial crisis - A Keynesian point of view
AbstractThe paper discusses the possible economic consequences of the financial crisis from a (Post)Keynesian point of view. It examines the forthcoming depressive mechanisms, including the orthodox reactions of monetary and fiscal authorities, in the vein of those inferred in Europe by the mandate of the European central bank and by the stability and growth pact. As these policies have been designed for an imaginary self regulated system, they are likely to make the situation worse. Measures adapted to the (Post)Keynesian representation of the real world are therefore also suggested.
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Bibliographic InfoPaper provided by HAL in its series Working Papers with number halshs-00335554.
Date of creation: 28 Oct 2008
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Depression; Financial crisis; Fiscal policy; Monetary policy; Recession;
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