Economic Policies for Exit from Crisis, in a Post-Kaleckian Model

Edwin Heron

Chapter 13 in Michał Kalecki in the 21st Century, 2015, pp 212-238 from Palgrave Macmillan

Abstract: Abstract The 2008 economic crisis is the most serious crisis that Western countries have faced since 1929. Many parallels can be drawn and similarities found between these two crises. However, the fall in GDP after 2008 does not reach the level of the 1929 crisis, particularly in the United States. Lessons were learned from the 1929 crisis, and economic policies served to reduce the impact of the recent crisis on GDP. It seems obvious for the monetary policy of central banks. But some proposals, such as the return to a ‘constitutional’ balanced budget in the European Union remind us of the Treasury view denounced by Keynes at the time.

Keywords: Interest Rate; Monetary Policy; Fiscal Policy; Commercial Bank; Private Bank (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-1-137-42828-8_14

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DOI: 10.1057/9781137428288_14

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