Monetary Policy Rules and Phillips’ Curve Tradeoffs in a Kaleckian Framework

Tracy Mott

Chapter 9 in Macroeconomics, Finance and Money, 2010, pp 139-149 from Palgrave Macmillan

Abstract: 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.

Keywords: Interest Rate; Monetary Policy; Productivity Growth; Inflation Rate; Output Growth (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28558-3_9

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DOI: 10.1057/9780230285583_9

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