[Marxism] Re: interest rate debate

Mine Doyran mine.doyran at verizon.net
Fri Mar 26 08:48:36 MST 2004


Frankly, I don't know what is so new about the argument that market interest
rates are themselves responses to discount rate changes, rather than being
outcomes of Fed policy. Even a standard Fed economist acknowledges this
fact. I was impressed by the originality of those arguments in the socialist
scholars conference.

anyhow, just a quick contribution to Gandall's post:

http://research.stlouisfed.org/publications/review/past/1992/

The Response of Market Interest Rates to Discount Rate Changes (PDF 5.3M),
Michael J. Dueker

More so than Gepstein or Pollin (who are semi-Keynesian/Minskians, bwt) it
was Edwin Dickens, who actually wrote about the impact of class conflict on
the determination of Fed policies. Do these people even acknowledge the
literature while giving a presentation? Amazing:-))


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Mine A. Doyran
Doctoral Candidate
Department of Political Science
Nelson A. Rockefeller College of Public Affairs and Policy
University at Albany, S.U.N.Y.
135 Western Avenue, Milne Hall
Albany, NY 12222
mine.doyran at verizon.net
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"They always say that time changes things, but you actually
 have to change them yourself." -- Andy Warhol
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