Macroeconomics without the LM curve: an alternative view
构建了一个完全后凯恩斯主义的宏观经济模型，替代新共识模型，并展示非货币政策（如财政和收入政策）如何影响均衡，发现通胀目标制在适当政策环境下能改善实际经济表现。
This paper develops a 'fully articulated' post-Keynesian alternative to the 'New Consensus' macroeconomic model, based on explicitly post-Keynesian hypotheses about the inflation process, the income-generating process and the appropriate conduct of monetary policy. The paper demonstrates how the equilibrium configuration of this model can be manipulated by non-monetary policy interventions, including fiscal policy and incomes policy. One (perhaps surprising) result that emerges from the analysis is that in the context of the proper policy environment, inflation targeting can have a positive impact on real economic performance.