Angeriz, Alvaro; Arestis, Philip - In: Journal of Post Keynesian Economics 31 (2009) 4, pp. 567-586
Current economic policy upgrades monetary policy and downgrades fiscal policy. Monetary policy involves the … manipulation of the central bank interest rate, with the specific objective of achieving the main goal of monetary policy, which is …, in most cases, the inflation rate. Fiscal policy should not be used as an instrument of stabilization policy. This raises …