New-Consensus Macroeconomic Governance in a Keynesian world, and the Keynesian alternative
Résumé
The paper presents both the New Consensus and Keynesian equilibrium within the usual four
competitive macro-markets structure. It gives theoretical explanations of the pernicious
effects that the NCM governance, which has been designed for ergodic stationary regimes,
brings about in Keynesian non-ergodic regimes. It put forward Keynesian principles of
governance which include monetary, budgetary and fiscal instruments, and suggest new
directions for the positive and normative analysis of macro-policies.
competitive macro-markets structure. It gives theoretical explanations of the pernicious
effects that the NCM governance, which has been designed for ergodic stationary regimes,
brings about in Keynesian non-ergodic regimes. It put forward Keynesian principles of
governance which include monetary, budgetary and fiscal instruments, and suggest new
directions for the positive and normative analysis of macro-policies.
Domaines
Economies et finances
Origine :
Fichiers produits par l'(les) auteur(s)
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