Cycles of demand and distribution and monetary policy in the U.S. economy
| Autor: | Armon Rezai |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Demand management
Macroeconomics Stabilization policy Economics and Econometrics Effective demand media_common.quotation_subject Monetary policy Monetary economics Monetary hegemony Interest rate JEL B500 E110 E120 E320 Credit channel Effective Demand / Income Distribution / Monetary Policy / Structuralist Macroeconomics Economics Capacity utilization media_common |
| Zdroj: | Journal of Post Keynesian Economics. 36:231-250 |
| ISSN: | 0160-3477 |
| Popis: | The role of monetary policy on the cyclical behavior of the labor share and capacity utilization in the US economy is studied empirically. Previous estimation results remain robust; the inclusion of the rate of interest does not alter the underlying specification of the distributive demand regime. Next, the role of monetary policy on net borrowing flows for four institutional sectors are analyzed. Interest rate effects appear most important for households. Based on this finding, implications for countercyclical stabilization policy are spelled out. (author's abstract) |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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