Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/31493
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dc.contributor.authorArestis, Philipen_US
dc.date.accessioned2010-05-14T11:08:18Z-
dc.date.available2010-05-14T11:08:18Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/31493-
dc.description.abstractThis paper is concerned with the New Consensus Macroeconomics (NCM) in the case of an open economy. It outlines and explains briefly the main elements of and way of thinking about the macroeconomy from the standpoint of both its theoretical and its policy dimensions. There are a few problems with this particular theoretical framework. We focus here on two important aspects closely related to NCM: the absence of banks and monetary aggregates from this theoretical framework, and the way the notion of the equilibrium real rate of interest” is utilized by the same framework. The analysis is critical of NCM from a Keynesian perspective.en_US
dc.language.isoengen_US
dc.publisher|aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NYen_US
dc.relation.ispartofseries|aWorking papers // The Levy Economics Institute |x564en_US
dc.subject.jelE10en_US
dc.subject.jelE12en_US
dc.subject.ddc330en_US
dc.subject.keywordNew consensus macroeconomicsen_US
dc.subject.keywordmonetary policyen_US
dc.subject.keywordbanksen_US
dc.subject.keywordmonetary aggregatesen_US
dc.subject.keywordequilibrium real rate of interesten_US
dc.titleNew consensus macroeconomics: a critical appraisalen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn605413819en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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