Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277084 
Authors: 
Year of Publication: 
2006
Citation: 
[Journal:] Intervention. Zeitschrift fuer Ökonomie / Journal of Economics [ISSN:] 2195-3376 [Volume:] 03 [Issue:] 2 [Year:] 2006 [Pages:] 331-349
Publisher: 
Metropolis-Verlag, Marburg
Abstract: 
This paper has the simple objective of exploring the implications of a Kaleckian (heterodox) macroeconomic analysis for the effectiveness of monetary policy, specifically one based on the use of interest rates to target the rate of inflation. The paper begins by setting out the essential features of a Kaleckian macroeconomic analysis in terms of the role of aggregate demand and money, and considering the nature of the supply-side of the economy. Some features of that analysis are drawn out and implications are drawn for the nature and effectiveness of monetary policy.
Subjects: 
monetary policy
Kalecki
macroeconomic analysis
JEL: 
E12
E50
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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