Monetary transmission: Testing the post-keynesian view after the greatrecession

Research output: Contribution to journalReview articlepeer-review


The paper presents an empirical investigation of the hypothesis that the Post-Keynesian (PK) view of structuralist endogeneity continues to explain the interest rate movements following the Great Recession of 2007 2009. We test the hypothesis by analyzing monthly data from the U.S. economy covering the period 2009:07 to 2016:05 using the unrestricted vector autoregressive (VAR) model and the Granger causality tests. The findings from our paper support the structuralist PK view, which indicates the importance of the interest rate channel of monetary transmission.

Original languageEnglish
Pages (from-to)233-257
Number of pages25
JournalApplied Economics Quarterly
Issue number3
Publication statusPublished - 2017


  • Accommodative theory
  • Granger causality
  • Money supply endogeneity
  • Post Keynesians
  • Structural theory
  • VAR model

ASJC Scopus subject areas

  • General Economics,Econometrics and Finance


Dive into the research topics of 'Monetary transmission: Testing the post-keynesian view after the greatrecession'. Together they form a unique fingerprint.

Cite this