This article explains in detail the emergence of the new Keynesian economic paradigm as a consequence of the experience of the Great War and the Great Depression and the results obtained through government intervention ...

The conduct of British fiscal policy has changed during the post-war period, reflecting both the pressure of events and the evolution of thinking about macroeconomic policy. This essay reviews the changes in policy approach ...

This paper examines the compatibility of inflation targeting with an economy that is Post Keynesian in character. We show that in a Post Keynesian environment, policymakers can both set and achieve an inflation target ...

The common understanding of the phrase, ‘the Keynesian revolution’, is a reappraisal of the theory of fiscal policy after the publication of Keynes’s The General Theory of Employment, Interest and Money in 1936, followed by ...

The Keynesian multiplier (MK) is one of the main results of Keynesian macroeconomics. Based on the MK, it is argued that expansive fiscal policy can reactivate the economy. In the following slides the basic fundamentals of ...