Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/31493 
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dc.contributor.authorArestis, Philipen
dc.date.accessioned2010-05-14T11:08:18Z-
dc.date.available2010-05-14T11:08:18Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NYen
dc.relation.ispartofseries|aWorking Paper |x564en
dc.subject.jelE10en
dc.subject.jelE12en
dc.subject.ddc330en
dc.subject.keywordNew consensus macroeconomicsen
dc.subject.keywordmonetary policyen
dc.subject.keywordbanksen
dc.subject.keywordmonetary aggregatesen
dc.subject.keywordequilibrium real rate of interesten
dc.titleNew consensus macroeconomics: a critical appraisal-
dc.typeWorking Paperen
dc.identifier.ppn605413819en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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