TITLE

Economic stabilization and money supply endogeneity in a conflicting claims environment

AUTHOR(S)
Isaac, Alan G.
PUB. DATE
September 1991
SOURCE
Journal of Post Keynesian Economics;Fall91, Vol. 14 Issue 1, p93
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article illustrates some effects of monetarist policy in a nonmonetarist economy. Although it is widely considered that a "k-percent" rule has optimality properties in a variety of neoclassical settings, theoretical analyses of alternative monetary policies in Post Keynesian macromodels are scarce. In a conflicting claims economy, monetary policy rules are a crucial determinant of macroeconomic performance. In particular, accommodative policies are stabilizing, that monetarist policies are destabilizing, and that stable macrodynamic behavior requires the implementation of activist macropolicy.
ACCESSION #
12028477

 

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