Does Public Deficit Mean Inflation? A Reflection on the Kaleckian and Minskian Tradition

Narciso Tuñez-Area ()
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Narciso Tuñez-Area: University of Greenwich

European Journal of Economics and Economic Policies: Intervention, 2006, vol. 3, issue 1, 151–167

Abstract: This paper analyses the determination of prices within a Kaleckian and Minskian framework. In the Minskian model, public deficit generates mark-up inflation, a result that resembles Neo-Keynesian models of growth. In the Kaleckian model, an increase in aggregate demand is not absorbed by inflated prices but by a higher utilisation of capacity. This paper discusses issues at the core of Post-Keynesian thought.

JEL-codes: E12 (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:elg:ejeepi:v:3:y:2006:i:1:p:151-167

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