Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277207 
Year of Publication: 
2011
Citation: 
[Journal:] Intervention. European Journal of Economics and Economic Policies [ISSN:] 2195-3376 [Volume:] 08 [Issue:] 1 [Year:] 2011 [Pages:] 91-112
Publisher: 
Metropolis-Verlag, Marburg
Abstract: 
The dominant role of the "new consensus models" in central banks' policy-making in the last two decades has triggered the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor-type interest rate rules. This paper develops a simple macroeconomic model in order to pinpoint the distributional/demand effects of rentiers' interest income in a money/debt-using and demand determined economy. The ultimate objective of this model is to provide a starting point for the development of a post-Keynesian approach to interest rate policy that differs from the "activist" and the "parking-it" approaches.
Subjects: 
monetary policy
interest rates
income distribution
inflation
unemployment
JEL: 
B22
D33
E12
E24
E31
E52
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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