The Viability of Keynesian Demand Management in an Open Economy Context

Louise Davidson

Chapter 6 in Uncertainty, International Money, Employment and Theory, 1999, pp 89-102 from Palgrave Macmillan

Abstract: Abstract This paper explains why, in an open economy context, Keynes-type demand management policies appear to have lost their ability to create jobs domestically. Instead, stimulatory policies tend to create an import deficit (as jobs are created abroad) and the fear of inflation domestically. The paper then suggests remedies that will resurrect Keynes-type demand management policies to stimulate expansion without experiencing balance of payment problems or domestic inflation.

Keywords: Monetary Policy; Fund Manager; Full Employment; Demand Management; Trade Deficit (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14991-9_6

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DOI: 10.1007/978-1-349-14991-9_6

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