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Appears in Collections:Economics Book Chapters and Sections
Title: Monetary policy and regulation of financial markets - a Keynesian view
Author(s): Dow, Sheila
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Editor(s): Chaloupek, GK
Marterbauer, M
Citation: Dow S (2013) Monetary policy and regulation of financial markets - a Keynesian view. In: Chaloupek G & Marterbauer M (eds.) 75 Jahre General Theory of Employment, Interest and Money. Wirtschaftswissenschaftliche Tagungen der AK Wien, 17. Vienna, Austira: LexisNexis, pp. 43-60.
Issue Date: 2013
Date Deposited: 5-Jan-2016
Series/Report no.: Wirtschaftswissenschaftliche Tagungen der AK Wien, 17
Abstract: The purpose of the paper is to explore the relationship between theory and policy in a Keynesian framework. Post Keynesian theory is developed with a view to addressing policy questions, rather than a separable abstraction, within a general exercise in political economy as a moral science. The starting point is the nature of the economy and its different manifestations in different contexts; the resulting methodology is discussed in terms of pluralism. There is a resulting interdependence between theory, institutional design and policy, the discussion drawing on the work of Niebyl. The significance of this Keynesian approach to policy is illustrated by a discussion of monetary policy and bank regulation in the modern context.
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