Title: Monetary Policy Rules and Phillips’ Curve Tradeoffs in a Kaleckian Framework
Abstract: Though some have suggested that price inflation is inimical to economic growth, it is the case that policies to limit inflation by restricting aggregate demand must restrict economic growth in the short run. In a Kaleckian framework we can portray the process by which increases in aggregate demand affect the overall price level as follows.KeywordsInterest RateMonetary PolicyProductivity GrowthInflation RateOutput GrowthThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Publication Year: 2010
Publication Date: 2010-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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