Actas de congresos
What should cenral banks do: Post-keynesian interest rate rules post-crisis
Registro en:
Rochon, Louis-Philippe (2011): What should cenral banks do: Post-keynesian interest rate rules post-crisis. In: XI Seminario de Economía Fiscal y Financiera Crisis, estabilización y desorden financiero, 29-31 Mar 2011, Distrito Federal, México. (No publicado)
Autor
Rochon, Louis-Philippe
Institución
Resumen
•Notion that central banks control the
money supply is losing its appeal;
•Rather, central banks control the rate
of interest – an administered price;
•Long the domain of post-Keynesians
(Keynes, 1941-1946; Robinson,
Kaldor, Moore) and heterodox
economists, it is now filtering into the
mainstream;
•Ben Friedman:
•Two emerging approaches in PK
literature regarding interest rules,
what I labeled elsewhere the ‘activist’
and the ‘parking-it’ (or benchmark)
approaches