The central bank sets the interest rate at a level that will not cause inflation or deflation." This interest rate at a level that will not cause inflation or deflation is the "natural interest rate" ...

The New Consensus theory of New Keynesians also adopts the view that interest rates are exogenous and money supply is endogenous, and although it seems similar to the endogenous money supply theory of...

Explain in detail the purpose and significance of fiscal policy and income policy in post-Keynesian economics. The purpose and significance of fiscal policy and income policy in post-Keynesian econom...

Post-Keynesian economist Marc Lavoie criticized Hyman Minsky's Financial Instability Hypothesis by saying that "if a company has sufficient internal reserves, it acts as a buffer against financial and...

Explain the Employer of Last Resort (ELR) advocated by Hyman Minsky. Hyman Minsky is known as a theorist of post-Keynesian economics, and was particularly influential in discussions on the financial ...