This volume, along with its companion volume, Methodology, Microeconomics and Keynes is published in honour of Victoria Chick, inspired by her own contributions to knowledge in all of these areas and their interconnections. It represents both consolidation and the breaking of new ground in Keynesian monetary theory and macroeconomics by leading figures in these fields.Let us refer to the first-round effects of the interest rate cut as working through a credit channel and the second and subsequent round ... It should now be clear why the existence of a complex modern banking system whose liabilities include many instruments that one ... likely to dominate monetary policya#39;s transmission mechanism, but it does not make such an outcome empirically certain by any means.
|Title||:||Money, Macroeconomics and Keynes|
|Author||:||Philip Arestis, Meghnad Desai, Professor of Economics and Director of the Centre for Study in Global Governance Meghnad Desai, Sheila Dow|
|Publisher||:||Routledge - 2013-06-17|