Abstract

PALLEY, Thomas I.. Quantitative easing: a Keynesian critique. Inv. Econ [online]. 2011, vol.70, n.277, pp.69-86. ISSN 0185-1667.

Keynesian economists have generally supported quantitative easing (QE) on grounds it increases aggregate demand and anything that increases demand at this time of demand shortage is welcome. This paper argues that response may be misplaced. QE may back fire with respect to demand stimulus create potentially significant future dangers, and is supportive of a plutocratic based on "asset market trickle-down" that obstructs needed policy change.

Keywords : quantitative easing; monetary policy; asset prices.

        · abstract in Spanish     · text in English     · English ( pdf )