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Monetary Policy and Macroeconomic Stability Under Alternative Demand Regimes

Proano, Christian R, Flaschel, Peter, Krolzig, Hans-Martin, Diallo, Mamadou Bobo (2011) Monetary Policy and Macroeconomic Stability Under Alternative Demand Regimes. Cambridge Journal of Economics, 35 (3). pp. 569-585. ISSN 0309-166X. E-ISSN 1464-3545. (doi:10.1093/cje/beq031) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (Contact us about this Publication)
Official URL
http://dx.doi.org/10.1093/cje/beq031

Abstract

In this paper we analyse the interaction of macroeconomic activity and the dynamics of real wages from a theoretical perspective. By means of a system-dynamic approach we investigate the economic viability of wage- and profit-led demand regimes by analysing not only the effect of real wages on output, but also the feedback mechanisms of macroeconomic activity on the real wages. Furthermore, in this context, we focus on the role of monetary policy as a macroeconomic stabilisation mechanism in the two mentioned demand regimes.

Item Type: Article
DOI/Identification number: 10.1093/cje/beq031
Additional information: number of additional authors: 3;
Uncontrolled keywords: Income distribution, Wage-led/ profit-led debate, Monetary policy,
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Stewart Brownrigg
Date Deposited: 07 Mar 2014 00:05 UTC
Last Modified: 06 Feb 2020 04:09 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/40516 (The current URI for this page, for reference purposes)
Krolzig, Hans-Martin: https://orcid.org/0000-0001-8488-7048
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