Limitações teóricas da literatura convencional sobre impactos regionais de política monetária

Fernanda Faria Silva, Marco Crocco and Carlos Javier Rodríguez-Fuentes
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Fernanda Faria Silva: Cedeplar-UFMG
Carlos Javier Rodríguez-Fuentes: Universidad de La Laguna – Spain

Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: The aim of this paper is to analyze the theoretical limitations of the mainstream’s Works related to the regional impacts of monetary policy. After a general presentation of the conventional framework, followed by the typology proposed in Dow & Rodríguez-Fuentes (1997), we present our arguments based on the Post-Keynesian theory against the traditional approach. In our view, the Post-Keynesian framework is the most appropriate for analyzing this type of dynamics. Its theoretical elements have the best explanation for the dynamics of the monetary policy at a regional level, once they take into account the role played by uncertainty and liquidity preference of economic agents and institutions, which are essential for the understanding the regional economics in a "center – periphery” context.

Keywords: regional monetary policy; liquidity preference; Post-Keynesian theory. (search for similar items in EconPapers)
JEL-codes: B59 E51 E52 E59 O23 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2010-01
New Economics Papers: this item is included in nep-geo and nep-hpe
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