Davidson on Keynes: the open economy dimension

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Davidson on Keynes: the open economy dimension

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dc.contributor.author Blecker, Robert A.
dc.date.accessioned 2009-02-20T21:37:19Z
dc.date.available 2009-02-20T21:37:19Z
dc.date.created 2008-07
dc.date.issued 2008-07
dc.identifier.uri http://hdl.handle.net/1961/5010
dc.description Working Paper No. 2008-06. 32 pages. en
dc.description.abstract This article reviews the treatment of open economy issues in Paul Davidson’s book, John Maynard Keynes (2007). Davidson aptly summarizes Keynes’s criticism of the international monetary system for the asymmetric “burden of adjustment” it places on deficit countries compared with surplus countries, which imparts a contractionary bias to the world economy. Davidson also updates Keynes’s proposals for global monetary reform and extends his analysis of international trade. However, Davidson’s arguments about mainstream views of international finance and the ineffectiveness of exchange rate adjustments are on less solid ground. This article suggests reformulations of Davidson’s interpretations on the latter two points. en
dc.description.sponsorship Department of Economics, American University en
dc.language.iso en_US en
dc.publisher Department of Economics, American University en
dc.rights Copyright © 2008 by Robert Blecker. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. en
dc.subject.other Davidson, Paul en
dc.subject.other Keynes, John Maynard en
dc.subject.other General Theory en
dc.subject.other open economies en
dc.subject.other international trade en
dc.subject.other international finance en
dc.title Davidson on Keynes: the open economy dimension en
dc.type Working Paper en


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