POST‐KEYNESIAN MONETARY THEORY: SOME ISSUES
梳理后凯恩斯货币理论的主要议题，重点剖析利率决定这一核心分歧（加成定价学派与流动性偏好学派），并论证商业周期理论需要流动性偏好视角来解释利率。
Abstract. Post‐Keynesian monetary theory is of increasing interest to economists in the light of world‐wide financial deregulation of financial markets. This paper offers an exposition of the main issues in this area, including an overview of the most divisive issue, that of interest rate determination, and hence, the slope of the money supply function. Post‐Keynesian monetary theorists divide into two camps with respect to the determination of interest rates: the ‘markup school’and the ‘liquidity preference school’. It is argued in the paper that the post‐Keynesian theory of the business cycle, which incorporates endogeneity of the money supply, requires a liquidity preference notion of interest rate determination.