Is inflation targeting compatible with Post Keynesian economics?
Is inflation targeting compatible with Post Keynesian economics?
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通货膨胀目标与后凯恩斯主义经济学兼容吗？
DOI：
10.2753/pke0160-3477280407
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发表时间：
2006
影响因子：
1
通讯作者：
M. Setterfield
中科院分区：
文献类型：
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作者：
M. Setterfield
本文的目的是证明通胀目标制与后凯恩斯主义经济学是兼容的，但前提是用于实现通胀目标的政策必须明确承认(1)实际收入产生过程的需求决定性质，以及(2)对收入分配的相互冲突的主张对决定通货膨胀率的重要性。然后，这篇论文质疑政策制定者是否应该费心去实施通胀目标制。结果表明，通胀目标制确实存在后凯恩斯主义的理由，但从后凯恩斯主义经济学中出现的适当的通胀目标表明，目前人们对通胀的关注太多了，政策制定者应该更多地关注产出(进而是就业)目标制。
The purpose of this paper is to show that inflation targeting is compatible with Post Keynesian economics, but only if the policies used to achieve the inflation target explicitly acknowledge (1) the demand-determined nature of the real income generating process, and (2) the importance of conflicting claims over the distribution of income for determining the rate of inflation. The paper then questions whether or not policy makers should trouble to engage in inflation targeting. It is shown that there does exist a Post Keynesian case for inflation targeting, but that the appropriate inflation target that emerges from Post Keynesian economics suggests that far too much attention is currently being paid to inflation and that more of policy makers' attention should be devoted to output (and, by extension, employment) targeting.