Optimal Monetary and Fiscal Policy with Limited Asset Market Participation

2009 ◽  
Author(s):  
Sven Jari Stehn
Keyword(s):  
Fiscal Policy ◽  
Asset Market ◽  
Market Participation ◽  
Monetary And Fiscal Policy

Theorizing About Post-Keynesian Economics in Australasa

2013 ◽  
pp. 411-435
Author(s):  
Paul Dalziel ◽  
J. W. Nevile
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Monetary Policy ◽  
World War Ii ◽  
Fiscal Policy ◽  
Aggregate Demand ◽  
World War ◽  
Keynesian Economics ◽  
Low Levels ◽  
Monetary And Fiscal Policy

There was much in common in the development of post-Keynesian economics in Australia and New Zealand, but there were also many differences. Both countries shared a common heritage in higher education. In the first twenty-five years after World War II, both countries adopted broadly Keynesian policies and experienced very low levels of unemployment. Increasingly over these years more theorizing about macroeconomic policy had what now would be called a post-Keynesian content, but this label was not used till after the event. In both countries, apart from one important factor, the experience of actual monetary policy and theorizing about it were similar. Keynesian ideas were more rapidly adopted in Australia than in many other countries. Not surprisingly for a couple of decades after 1936, analysis of policy and its application was Keynesian rather than post-Keynesian, with fiscal policy playing the major role. The conduct of both monetary and fiscal policy depends on the theory of inflation. This chapter examines post-Keynesian economics in Australasia, focusing on aggregate demand, economic growth, and income distribution policy.

Optimal Monetary and Fiscal Policy in a Liquidity Trap [with Comments]

2004 ◽  
Vol 2004 (1) ◽  
pp. 75-144
Author(s):  
Gauti B. Eggertsson ◽  
Michael Woodford ◽  
Tor Einarsson ◽  
Eric M. Leeper
Keyword(s):  
Fiscal Policy ◽  
Liquidity Trap ◽  
Monetary And Fiscal Policy
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