THE NEW CONSENSUS MACROECONOMICS: AN UNRELIABLE GUIDE FOR POLICY

Philip Arestis · Malcolm Sawyer

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Monetary Policy and Economic Impact Economic Theory and Policy Economic theories and models

Abstract

O artigo apresente o Novo Consenso Macroeconômico e discute três importantes aspectos relacionados a ele: as implicações de políticas fiscal e monetária; a importância do conceito de "taxa natural de juros" para o Novo Consenso Macroeconômico; e as conseqüências quando a taxa de juros difere da "taxa natural de juros". Ademais, o papel central da curva de Phillips no Novo Consenso Macroeconômico e o controle da inflação são outros aspectos a serem analisados. Nesse sentido, o artigo apresenta a crítica da curva de curva de Phillips novo keynesiana ao foco central do Novo Consenso Macroeconômico.

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References

1936The General Theory of Employment, Interest and Money.1936The General Theory of Employment, Interest and Money.1993Discretion versus policy rules in practice 2005INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY 1996Staggered Prices in a Utility-Maximizing Framework 1995The Role of Monetary Policy 1999Inflation dynamics: A structural econometric analysis 1990Lectures on macroeconomics

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