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Between the Cup and the Lip: On Post Keynesian Interest Rate Rules and Long-term Interest Rate Management

In: Monetary Policy and Central Banking

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  • Angel Asensio

Abstract

Divided into two parts, this book presents a detailed, multi-faceted analysis of banking and monetary policy. The first part examines the role of central banks within an endogenous money framework. These chapters address post-Keynesian interest rate policy, monetary mercantilism, financial market organization and developing economies. In the second part of the book, the focus switches to the analysis of the financial crisis that began in 2007. The chapters in this section discuss the role of central banks in times of crisis.

Suggested Citation

  • Angel Asensio, 2012. "Between the Cup and the Lip: On Post Keynesian Interest Rate Rules and Long-term Interest Rate Management," Chapters,in: Monetary Policy and Central Banking, chapter 1 Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:14188_1
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    References listed on IDEAS

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    1. L. Wray, 2007. "A Post Keynesian view of central bank independence, policy targets, and the rules versus discretion debate," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 119-141.
    2. John Smithin, 2007. "A real interest rate rule for monetary policy?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 101-118.
    3. Lavoie, Marc, 1996. "Horizontalism, Structuralism, Liquidity Preference and the Principle of Increasing Risk," Scottish Journal of Political Economy, Scottish Economic Society, vol. 43(3), pages 275-300, August.
    4. H. Atesoglu, 2007. "The neutral rate of interest and a new monetary policy rule," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 29(4), pages 689-697.
    5. Louis-Philippe Rochon & Mark Setterfield, 2007. "Interest rates, income distribution, and monetary policy dominance: Post Keynesians and the "fair rate" of interest," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 13-42.
    6. Alcino F. Câmara Neto & Matias Vernengo, 2004. "Fiscal policy and the Washington consensus: a Post Keynesian perspective," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(2), pages 333-343.
    7. Thomas Palley, 2007. "Macroeconomics and monetary policy: competing theoretical frameworks," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(1), pages 61-78.
    8. Gilberto Tadeu Lima & Mark Setterfield, 2008. "Inflation targeting and macroeconomic stability in a Post Keynesian economy," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 30(3), pages 435-461, April.
    9. Paul Davidson, 2006. "Can, or should, a central bank inflation target?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 28(4), pages 689-703.
    10. Louis-Philippe Rochon & Mark Setterfield, 2008. "The Political Economy of Interest-Rate Setting, Inflation, and Income Distribution," International Journal of Political Economy, Taylor & Francis Journals, vol. 37(2), pages 5-25.
    11. Giuseppe Fontana & Alfonso Palacio-Vera, 2007. "Are Long-Run Price Stability And Short-Run Output Stabilization All That Monetary Policy Can Aim For?," Metroeconomica, Wiley Blackwell, vol. 58(2), pages 269-298, May.
    12. Geoff Tily, 2009. "The General Theory and monetary policy: Investment versus inflation," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 6(1), pages 97-118.
    13. John Smithin, 1994. "Controversies In Monetary Economics," Books, Edward Elgar Publishing, number 412, June.
    14. Orphanides, Athanasios & Wilcox, David W, 2002. "The Opportunistic Approach to Disinflation," International Finance, Wiley Blackwell, vol. 5(1), pages 47-71, Spring.
    15. Geoff Tily, 2006. "Keynes's theory of liquidity preference and his debt management and monetary policies," Cambridge Journal of Economics, Oxford University Press, vol. 30(5), pages 657-670, September.
    16. H. Sonmez Atesoglu & John Smithin, 2006. "Inflation targeting in a simple macroeconomic model," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 28(4), pages 673-688.
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