New-consensus macroeconomic governance in a Keynesian world, and the Keynesian alternative

Brazilian Journal of Political Economy

关键词: fiscal policy;    Macroeconomic governance;    monetary policy;    post-Keynesian;   

DOI  :  10.1590/S0101-31572006000400004

来源: DOAJ

【 摘 要 】

The paper presents both the New Consensus and Keynesian equilibrium within the usual four competitive macro-markets structure. It gives theoretical explanations of the pernicious effects that the NCM governance, which has been designed for ergodic stationary regimes, brings about in Keynesian non-ergodic regimes. It put forward Keynesian principles of governance which include monetary, budgetary and fiscal instruments, and suggest new directions for the positive and normative analysis of macro-policies.

【 授权许可】

Unknown