Please use this identifier to cite or link to this item:
Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Post Keynesian Monetary Theory for an Open Economy
Author(s): Dow, Sheila
Contact Email:
Issue Date: 1-Dec-1987
Date Deposited: 18-Jan-2016
Citation: Dow S (1987) Post Keynesian Monetary Theory for an Open Economy. Journal of Post Keynesian Economics, 9 (2), pp. 237-257.
Abstract: First paragraph: Frenkel and Johnson (1977, p. 24) present their theory of the balance of payments as being monetary, rather than "monetarist", on the grounds that it relies on a representation of the demand for money function which is generally accepted by monetary theorists. Indeed, no alternative approach emerged until Davidson (1982), so that some form of "global monetarism" has been embedded in the neoclassical synthesis. While Keynesians in what Coddington (1976) calls the "hydraulic Keynesian" tradition have de-emphasized monetary variables, those classified as Post Keynesians have attempted to revitalize interest in the workings of a monetary economy, emphasizing ability of monetary variables to influence output and employment in both the short run and the long run; central to this approach is the instability of the demand for money. It seems a natural progression (and one advocated by Chick, 1983, pp. 357-358) to extend Keynesian theory to incorporate the monetary effects of economic openness, as an alternative to global monetarism. (Henceforth the terms "Keynesian" and "Post Keynesian" will be used interchangeably).
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Licence URL(s):

Files in This Item:
File Description SizeFormat 
1986-87 PK open economy in JPKE.pdfFulltext - Published Version866.35 kBAdobe PDFUnder Embargo until 2999-12-02    Request a copy

Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependent on the depositor still being contactable at their original email address.

This item is protected by original copyright

Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

The metadata of the records in the Repository are available under the CC0 public domain dedication: No Rights Reserved

If you believe that any material held in STORRE infringes copyright, please contact providing details and we will remove the Work from public display in STORRE and investigate your claim.