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Does fiscal policy affect the monetary transmission mechanism? A monetary theory of production (MTP) response to the new consensus macroeconomics (NCM) perspective

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  • Giuseppe Fontana
  • Andrea Pacella
  • Riccardo Realfonzo

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  • Giuseppe Fontana & Andrea Pacella & Riccardo Realfonzo, 2017. "Does fiscal policy affect the monetary transmission mechanism? A monetary theory of production (MTP) response to the new consensus macroeconomics (NCM) perspective," Metroeconomica, Wiley Blackwell, vol. 68(2), pages 378-395, May.
  • Handle: RePEc:bla:metroe:v:68:y:2017:i:2:p:378-395
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    File URL: https://doi.org/10.1111/meca.12166
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    References listed on IDEAS

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    1. Alain Parguez, 2008. "Money Creation, Employment and Economic Stability: The Monetary Theory of Unemployment and Inflation," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(1), pages 39-67, March.
    2. Tatiana Kirsanova & Campbell Leith & Simon Wren-Lewis, 2009. "Monetary and Fiscal Policy Interaction: The Current Consensus Assignment in the Light of Recent Developments," Economic Journal, Royal Economic Society, vol. 119(541), pages 482-496, November.
    3. Peter Kriesler & Marc Lavoie, 2007. "The New Consensus on Monetary Policy and its Post-Keynesian Critique," Review of Political Economy, Taylor & Francis Journals, vol. 19(3), pages 387-404.
    4. repec:mes:jeciss:v:18:y:1984:i:3:p:771-797 is not listed on IDEAS
    5. Graziani,Augusto, 2003. "The Monetary Theory of Production," Cambridge Books, Cambridge University Press, number 9780521812115, June.
    6. Paul Dalziel, 1996. "The Keynesian Multiplier, Liquidity Preference, and Endogenous Money," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 18(3), pages 311-331, March.
    7. Giuseppe Fontana & Mark Setterfield, 2009. "Macroeconomics, endogenous money and the contemporary financial crisis: a teaching model," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 1(1/2), pages 130-147.
    8. Trevithick, J A, 1994. "The Monetary Prerequisites for the Multiplier: An Adumbration of the Crowding-Out Hypothesis," Cambridge Journal of Economics, Oxford University Press, vol. 18(1), pages 77-90, February.
    9. Giuseppe Fontana, 2004. "Hicks on monetary theory and history: money as endogenous money," Cambridge Journal of Economics, Oxford University Press, vol. 28(1), pages 73-88, January.
    10. Martin H. Wolfson, 1996. "A Post Keynesian Theory of Credit Rationing," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 18(3), pages 443-470, March.
    11. Guglielmo Forges Davanzati & Andrea Pacella & Riccardo Realfonzo, 2009. "Fiscal policy in the monetary theory of production: an alternative to the "new consensus" approach," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 31(4), pages 605-621, July.
    12. Chick, Victoria, 1995. "Is There a Case for Post Keynesian Economics?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 42(1), pages 20-36, February.
    13. Giuseppe Fontana & Riccardo Realfonzo, 2015. "Augusto Graziani, a Leading Italian Post Keynesian Economist," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 23(1), pages 23-38.
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