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Alternative monetary policies and economic stability in a medium-term Keynesian model

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  • Hiroki Murakami

    (Japan Society for the Promotion of Science
    University of Tokyo)

Abstract

In this paper, we present a medium-term (disequilibrium) Keynesian model, study the stabilizing effects of monetary policies by means of the supply of money and of the rate of interest, and analyze the effects of the inflation-targeting policy. Moreover, we examine the possibility of periodic orbits generated by way of Hopf bifurcations.

Suggested Citation

  • Hiroki Murakami, 2016. "Alternative monetary policies and economic stability in a medium-term Keynesian model," Evolutionary and Institutional Economics Review, Springer, vol. 13(2), pages 323-362, December.
    • Handle: RePEc:spr:eaiere:v:13:y:2016:i:2:d:10.1007_s40844-016-0045-2
    DOI: 10.1007/s40844-016-0045-2
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    Cited by:

    1. Murakami, Hiroki & Asada, Toichiro, 2018. "Inflation-deflation expectations and economic stability in a Kaleckian system," Journal of Economic Dynamics and Control, Elsevier, vol. 92(C), pages 183-201.
    2. Sołtysiak Damian, 2023. "On the stability of a certain Keynes-Metzler-Goodwin monetary growth model," Economics and Business Review, Sciendo, vol. 9(1), pages 26-64, April.

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    More about this item

    Keywords

    Business cycles; Keynesian economics; Monetary policies; Policy instruments;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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