The paper argues that beyond the deviations of the long-term interest rate the monetary authority may cause, it is the rate determined by the market conventional expectations that prevails eventually. Lasting influence requires the authority to be capable of changing the market conventional...

The paper examines the main instruments involved in Europe's "new" strategy in 2012. It explains why none are suited to the current challenges in terms of growth recovery and public debt control. The reason is basically that all the instruments focus on factor cost reductions (capital and...

This paper presents the main interpretations of the crisis that have been built within the mainstream general framework. Three theses are examined: the "money glut," the "saving glut," and "information asymmetry" à la Stiglitz. It is argued that the mainstream explanations suffer logical...

This paper provides a Keynesian model that is closer to the key ideas of The General Theory compared to contemporary models, which are very limited versions of The General Theory that ignore true uncertainty and 'views about the future', which have significant implication for the determination...

[eng] Regulation of external exchanges and external constraint over the long term : a comparison of four big European countries with Sweden and Switzerland, . by Angel Asensio.. . The paper describes the regulation of the external manufacturing exchanges in the six countries, with emphasis on...

Divided into two parts, this book presents a detailed, multi-faceted analysis of banking and monetary policy. The first part examines the role of central banks within an endogenous money framework. These chapters address post-Keynesian interest rate policy, monetary mercantilism, financial...

With recent turmoil in financial markets around the world, this unique and up-to-date book addresses a number of challenging issues regarding monetary policy, financial markets and macroeconomic policy.

This book contends that post Keynesian economics has its own methodological and didactic basis, and its realistic analysis is much-needed in the current economic and financial crisis. At a time when the original message of Keynes’ General Theory is no longer present in most university...

This volume, a collection of essays by internationally known experts in the area of the history of economic thought and of the economics of Keynes and macroeconomics in particular, is designed to celebrate the 75th anniversary of the publication of The General Theory.