A POST-KEYNESIAN AMENDMENT TO THE NEW CO
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Marc Lavoie
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Article
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2006
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John Wiley and Sons
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English
β 288 KB
## ABSTRACT A common view is now pervasive in policy research at universities and central banks, which one could call the New Keynesian consensus, based on an endogenous money supply. This new consensus reproduces received wisdom: in the long run, expansionary fiscal policy leads to higher inflatio