IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

A view on post-Keynesian interest rate policy

Listed author(s):
  • Giorgos Argitis

    ()

    (University of Athens)

The dominant role of the "new consensus models" in central banks’ policy-making in the last two decades has triggered the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor-type interest rate rules. This paper develops a simple macroeconomic model in order to pinpoint the distributional/demand effects of rentiers’ interest income in a money/debt-using and demand determined economy. The ultimate objective of this model is to provide a starting point for the development of a post-Keynesian approach to interest rate policy that differs from the "activist" and the "parking-it" approaches.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.elgaronline.com/view/journals/ejeep/8-1/ejeep.2011.01.07.xml
Download Restriction: no

Article provided by Edward Elgar Publishing in its journal Intervention. European Journal of Economics and Economic Policies.

Volume (Year): 8 (2011)
Issue (Month): 1 ()
Pages: 91-112

as
in new window

Handle: RePEc:elg:ejeepi:v:8:y:2011:i:1:p91-112
Contact details of provider: Web page: http://www.elgaronline.com/ejeep

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Anonymous, 0. "2007 Spring/Summer," CWAE Newsletter, Agricultural and Applied Economics Association, Committee on Women in Agricultural Economics (CWAE).
  2. Angel Asensio & Mark (M.G.) Hayes, 2009. "The Post Keynesian alternative to inflation targeting," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 6(1), pages 65-79.
  3. Richard Clarida & Jordi Galí & Mark Gertler, 1997. "The science of monetary policy: A new Keynesian perspective," Economics Working Papers 356, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 1999.
  4. Amit Bhaduri & Kazimierz Laski & Martin Riese, 2006. "A Model Of Interaction Between The Virtual And The Real Economy," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 412-427, 07.
  5. George Argitis, 2001. "Intra-capitalist Conflicts, Monetary Policy and Income Distribution," Review of Political Economy, Taylor & Francis Journals, vol. 13(4), pages 453-470.
  6. Philip Arestis & Malcolm Sawyer, 2003. "Reinventing Fiscal Policy," Economics Working Paper Archive wp_381, Levy Economics Institute.
  7. Stephen Rousseas, 1985. "A Markup Theory of Bank Loan Rates," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 8(1), pages 135-144, October.
  8. Allsop, Christopher & Vines, David, 2000. "The Assessment: Macroeconomic Policy," Oxford Review of Economic Policy, Oxford University Press, vol. 16(4), pages 1-32, Winter.
  9. Amitava Krishna Dutt, 1989. "Accumulation, Distribution and Inflation in a Marxian/Post-Keynesian Model with a Rentier Class," Review of Radical Political Economics, Union for Radical Political Economics, vol. 21(3), pages 18-26, September.
  10. Eckhard Hein, 2004. "Interest rate, debt, distribution and capital accumulation in a post-Kaleckian model," Macroeconomics 0412005, EconWPA.
  11. Olivier Blanchard, 2009. "The State of Macro," Annual Review of Economics, Annual Reviews, vol. 1(1), pages 209-228, 05.
  12. Anonymous, 0. "1989 Fall," CWAE Newsletter, Agricultural and Applied Economics Association, Committee on Women in Agricultural Economics (CWAE).
  13. Anonymous, 0. "2007 April, Volume 4, Issue 1," COSBAE Newsletter, Agricultural and Applied Economics Association, Committee on the Opportunities and Status of Blacks in Agricultural Economics (COSBAE).
  14. Mario Cassetti, 2003. "Bargaining power, effective demand and technical progress: a Kaleckian model of growth," Cambridge Journal of Economics, Oxford University Press, vol. 27(3), pages 449-464, May.
  15. Philip Arestis & Malcolm Sawyer, 2003. "Aggregate Demand, Conflict, and Capacity in the Inflationary Process," Economics Working Paper Archive wp_391, Levy Economics Institute.
  16. Anonymous, 0. "1989 Spring/Summer," CWAE Newsletter, Agricultural and Applied Economics Association, Committee on Women in Agricultural Economics (CWAE).
  17. Alvaro Angeriz & Philip Arestis, 2009. "The consensus view on interest rates and fiscal policy: reality or innocent fraud?," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 31(4), pages 567-586, July.
  18. Paul Davidson, 2006. "Can, or should, a central bank inflation target?," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 28(4), pages 689-703, July.
  19. Roy J. Rotheim, 1981. "Keynes' Monetary Theory of Value (1933)," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 3(4), pages 568-585, July.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:elg:ejeepi:v:8:y:2011:i:1:p91-112. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helen Craven)

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.