Post-Keynesian Alternative Policies to Curb Macroeconomic Imbalances in the Euro Area
Eckhard Hein and
Panoeconomicus, 2015, vol. 62, issue 2, 217-236
In this paper we outline alternative post-Keynesian policy recommendations addressing the problems of differential inflation, divergence in competitiveness and associated current account imbalances within the Euro area. We provide a basic framework in order to systematically address the related issues making use of Anthony P. Thirlwallâ€™s (1979, 2002) model of a â€œbalance-of-payments-constrained growth rateâ€ (BPCGR). Based on this framework, we outline the required stance for alternative economic policies and then we discuss the implications for alternative monetary, wage/incomes and fiscal policies in the Euro area as a whole, as well as the consequences for structural and regional policies in the Euro area periphery, in particular.
Keywords: Differential inflation rates; Current account imbalances; Competitiveness; Euro area economic policies (search for similar items in EconPapers)
JEL-codes: E61 E62 E63 E64 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:voj:journl:v:62:y:2015:i:2:p:217-236
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