Comparative evaluation of post-Keynesian interest rate rules, income distribution and firms' debts for macroeconomic performance
通过动态后凯恩斯模型，比较三种后凯恩斯利率规则（堪萨斯城规则、史密斯规则、帕西内蒂规则）下企业债务和收入分配对经济增长和通胀的影响，发现规则效果取决于增长和通胀模式。
This article investigates the macroeconomic effects of firms’ debts and income distribution on economic growth and inflation under three different post-Keynesian interest rate rules (the Kansas City rule, the Smithin rule, and the Pasinetti rule) by setting up a dynamic post-Keynesian model. After reviewing debates on the post-Keynesian interest rate policies, this article evaluates the relative merits of the three rules in their relationship with economic growth regimes and inflation dynamics. Accordingly, this article explicitly shows that (i) a policy rule works effectively under some economic growth and inflation patterns but not necessarily under other patterns, (ii) a policy rule contributing to high economic growth may not always be compatible with stabilisation of economic growth, and (iii) the macroeconomic effects of debt and income distribution on economic growth and inflation are closely related to the choice of interest rate rule.