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Limitações teóricas da literatura convencional sobre impactos regionais de política monetária

Listed author(s):
  • Fernanda Faria Silva


  • Marco Aurélio Crocco Afonso


  • Carlos Javier Rodríguez-Fuentes

    (Universidad de La Laguna – Spain)

The aim of this paper is to analyze the theoretical limitations of the mainstream’s Works related to the regional impacts of monetary policy. After a general presentation of the conventional framework, followed by the typology proposed in Dow & Rodríguez-Fuentes (1997), we present our arguments based on the Post-Keynesian theory against the traditional approach. In our view, the Post-Keynesian framework is the most appropriate for analyzing this type of dynamics. Its theoretical elements have the best explanation for the dynamics of the monetary policy at a regional level, once they take into account the role played by uncertainty and liquidity preference of economic agents and institutions, which are essential for the understanding the regional economics in a "center – periphery” context.

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Paper provided by Cedeplar, Universidade Federal de Minas Gerais in its series Textos para Discussão Cedeplar-UFMG with number td381.

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Length: 31 pages
Date of creation: Jan 2010
Handle: RePEc:cdp:texdis:td381
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