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Limitações teóricas da literatura convencional sobre impactos regionais de política monetária

Author

Listed:
  • Fernanda Faria Silva

    (Cedeplar-UFMG)

  • Marco Aurélio Crocco Afonso

    (Cedeplar-UFMG)

  • Carlos Javier Rodríguez-Fuentes

    (Universidad de La Laguna – Spain)

Abstract

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.

Suggested Citation

  • Fernanda Faria Silva & Marco Aurélio Crocco Afonso & Carlos Javier Rodríguez-Fuentes, 2010. "Limitações teóricas da literatura convencional sobre impactos regionais de política monetária," Textos para Discussão Cedeplar-UFMG td381, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td381
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    More about this item

    Keywords

    regional monetary policy; liquidity preference; Post-Keynesian theory.;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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