Monetary Policy, the Stock Market and the Real Economy: A Keynesian Conspectus

  • M. L. Burstein

Summary

Pieces of theory, quite completely described below, are arranged so that the emergent structure is quite strictly Keynesian. Thus we concentrate on changes in interest rates cum the unsatisfied fringe of borrowers as transmitters of central-banking actions. Indeed, real balance effects are eschewed; we tacitly adopt my earlier Burden of the Money Supply argument concerning the essentially zero-sum implications for net real wealth of purely financial assets, whether from a global or microeconomic standpoint.1

Keywords

Income Posite Metaphor 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Michael Allingham and M. L. Burstein 1976

Authors and Affiliations

  • M. L. Burstein

There are no affiliations available

Personalised recommendations