Temas de política monetária keynesiana

Resumo

Mainstream criticism of Keynesian macroeconomics was built on an alleged misaprehension of the importance of the role of money on the part of Keynes himself and of Keynesian economists. Keynesian economics had, in fact, a clear view of the macro role of money but argued that the elasticities of supply and/or demand for money were such, in empirical terms, as to reduce its influence on effective demand. This paper examines the traditional Keynesian arguments to support the view that money had no noticeable influence on effective demand, their Monetarist criticism and the basis for a reconstruction of a Keynesian analysis of monetary policy supported by the original approach of Keynes.