IDEAS home Printed from https://ideas.repec.org/a/elg/ejeepi/v3y2006i2p331-349.html
   My bibliography  Save this article

A Kaleckian Analysis of Monetary Policy

Author

Listed:
  • Malcolm Sawyer

    (Economics Division, Leeds University Business School, The University of Leeds)

Abstract

This paper has the simple objective of exploring the implications of a Kaleckian (heterodox) macroeconomic analysis for the effectiveness of monetary policy, specifically one based on the use of interest rates to target the rate of inflation. The paper begins by setting out the essential features of a Kaleckian macroeconomic analysis in terms of the role of aggregate demand and money, and considering the nature of the supply-side of the economy. Some features of that analysis are drawn out and implications are drawn for the nature and effectiveness of monetary policy.

Suggested Citation

  • Malcolm Sawyer, 2006. "A Kaleckian Analysis of Monetary Policy," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 3(2), pages 331-349.
    • Handle: RePEc:elg:ejeepi:v:3:y:2006:i:2:p:331-349
    as

    Download full text from publisher

    File URL: http://www.elgaronline.com/view/journals/ejeep/3-2/ejeep.2006.02.13.xml
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Malcolm Sawyer, 2011. "Re-thinking Macroeconomic Policies," Chapters, in: Claude Gnos & Louis-Philippe Rochon (ed.), Credit, Money and Macroeconomic Policy, chapter 13, Edward Elgar Publishing.

    More about this item

    Keywords

    monetary policy; Kalecki; macroeconomic analysis;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:ejeepi:v:3:y:2006:i:2:p:331-349. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Phillip Thompson (email available below). General contact details of provider: http://www.elgaronline.com/ejeep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.