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2015, vol. 62, br. 2, str. 217-236
Post-Keynesian alternative policies to curb macroeconomic imbalances in the Euro area
(naslov ne postoji na srpskom)
Berlin School of Economics and Law + Institute for International Political Economy, Berlin, Germany

e-adresaeckhard.hein@hwr-berlin.de, daniel.detzer@hwr-berlin.de
Projekat:
FESSUD - Financialisation, economy, society and sustainable development (EU-FP7 - 266800)

Ključne reči: Differential inflation rates; Current account imbalances; Competitiveness; Euro area economic policies
Sažetak
(ne postoji na srpskom)
In this paper we outline alternative post-Keynesian policy recommendations addressing the problems of differential inflation, divergence in competitiveness and associated current account imbalances within the Euro area. We provide a basic framework in order to systematically address the related issues making use of Anthony P. Thirlwall's (1979, 2002) model of a 'balance-of-payments-constrained growth rate' (BPCGR). Based on this framework, we outline the required stance for alternative economic policies and then we discuss the implications for alternative monetary, wage/incomes and fiscal policies in the Euro area as a whole, as well as the consequences for structural and regional policies in the Euro area periphery, in particular.
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O članku

jezik rada: engleski
vrsta rada: izvorni naučni članak
DOI: 10.2298/PAN1502217H
objavljen u SCIndeksu: 06.07.2015.