The return of fiscal policy

Journal of Post Keynesian Economics

Volumn 32, Issue 3, 2010, Pages 327-346

  Arestis, Philip ^a   Sawyer, Malcolm ^b  

^a UNIVERSITY OF CAMBRIDGE   (United Kingdom)

^b UNIVERSITY OF LEEDS   (United Kingdom)

Author keywords

Budget deficits; Fiscal policy; Functional finance

Indexed keywords

EID: 77951716931     PISSN: 01603477     EISSN: None     Source Type: Journal    
DOI: 10.2753/PKE0160-3477320301     Document Type: Article

References (29)

1. Arestis, P. "Fiscal Policy Within the 'New Consensus Macroeconomics' Framework." In J. Creel and M. Sawyer (eds.), Current Thinking on Fiscal Policy. Basingstoke, UK: Palgrave Macmillan, 2009a, pp. 6-27.
2. ---. "New Consensus Macroeconomics: A Critical Appraisal." In E. Hein, T. Niechoj, and E. Stockhammer (eds.), Macroeconomic Policies on Shaky Foundations-Whither Mainstream Economics? Marburg, Germany: Metropolis, 2009b.
3. Arestis, P., and Chortareas, G. "Atheoretical and Theory-Based Approaches to the Natural Equilibrium Real Interest Rate." Eastern Economic Journal, 2008, 34 (3), 390-405.
4. Arestis, P., and De Antoni, E. "Minsky's Financial Instability Hypothesis: The Crucial Role of Fiscal Policy." In J. Creel and M. Sawyer (eds.), Current Thinking on Fiscal Policy. Basingstoke, UK: Palgrave Macmillan, 2009, pp. 51-77.
5. Arestis, P., and Sawyer, M. "On the Effectiveness of Monetary and Fiscal Policy." Review of Social Economics, 2003, 62 (4), 441-463.
6. ---. Alternative Perspectives on Economic Policies in the European Union. Basingstoke, UK: Palgrave Macmillan, 2006a.
7. ---. "Fiscal Policy Matters." Public Finance, 2006b, 54 (3-4), 133-153.
8. ---. "A Critical Reconsideration of the Foundations of Monetary Policy in the New Consensus Macroeconomics Framework." Cambridge Journal of Economics, 2008a, 32 (5), 761-779.
9. ---. "The Intertemporal Budget Constraint and the Sustainability of Budget Deficits." In J. Creel and M. Sawyer (eds.), Current Thinking on Fiscal Policy. Basingstoke, UK: Palgrave Macmillan, 2008b, pp. 95-111.
10. Arestis, P., and Sawyer, M. (eds.). 21st Century Keynesian Economic Policies. Basingstoke, UK: Palgrave Macmillan, 2010, pp. 81-119.
11. Blanchard, O., and Fischer, S. Lectures on Macroeconomics. Cambridge, MA: MIT Press, 1989.
12. "Budget 2009: Building Britain's Future." HM Treasury London 2009.
13. Godley, W.; Papadimitriou, D.; and Zezza, G. "Prospects for the United States and the World: A Crisis that Conventional Remedies Cannot Resolve." Strategic Analysis, Levy Economics Institute of Bard College, Annandale-on-Hudson, December 2008.
14. Hawtrey, R.G. "Public Expenditure and the Demand for Labour." Economica, 1925, 5, 38-48.
15. Kalecki, M. "Three Ways to Full Employment." In The Economics of Full Employment: Six Studies in Applied Economics. Oxford: Blackwell, 1944, pp. 39-58.
16. Kamps, C. "New Estimates of Government Net Capital Stocks for 22 OECD Countries, 1960-2001." IMF Staff Papers, 2006, 53 (1), 120-150.
17. Laubach, T., and Williams, J.C. "Measuring the Natural Rate of Interest." Finance and Economics Discussion Series 2001-2056, Federal Reserve Board, Washington, DC, 2001.
18. Leith, C., and Wren-Lewis, S. "Fiscal Stabilization Policy and Fiscal Institutions." Oxford Review of Economic Policy, 2005, 21 (4), 584-597.
19. Lerner, A. "Functional Finance and the Federal Debt." In W. Mueller (ed.), Readings in Macroeconomics. New York: Holt, Rinehart and Winston, 1966. [Originally published in 1943.]
20. Meyer, L.H. "Does Money Matter?" Federal Reserve Bank of St. Louis Review, 2001, 83 (5), 1-15.
21. Nell, E. The General Theory of Transformational Growth. Cambridge: Cambridge University Press, 1998.
22. Organization for Economic Cooperation and Development (OECD). Interim Economic Outlook, March. Paris, 2009.
23. Pasinetti, L. "The Social 'Burden' of High Interest Rates." In P. Arestis, G. Palma, and M. Sawyer (eds.), Capital Controversy, Post-Keynesian Economics and the History of Economics: Essays in Honour of Geoff Harcourt. London: Routledge, 1997, pp. 161-168.
24. Sawyer, M. "Fiscal Policy Under New Labour." Cambridge Journal of Economics, 2007, 31 (6), 885-900.
25. ---. "The Continuing Relevance of Fiscal Policy." In J. Creel and M. Sawyer (eds.), Current Thinking on Fiscal Policy. Basingstoke, UK: Palgrave Macmillan, 2009, pp. 78-94.
26. Taylor, J.B. "Discretion Versus Policy Rules in Practice." Carnegie-Rochester Conference Series on Public Policy, 1993, 39 (1), 195-214.
27. Weber, A.; Lemke, W.; and Worms, A. "How Useful Is the Concept of the Natural Real Rate of Interest for Monetary Policy?" Cambridge Journal of Economics, 2008, 32 (1), 49-63.
28. Woodford, M. Interest and Prices: Foundations of a Theory of Monetary Policy. Princeton: Princeton University Press, 2003.
29. Wren-Lewis, S. "Changing the Rules." New Economy, 2003, 10 (2), 73-78.