|Mause I 225
Def Investment Trap/Keynesianism: in the so-called investment trap, interest rate changes have no influence on investment demand. The possibility of a so-called fine-tuning of the economy by monetary policy is therefore viewed with skepticism. Post-Keynesian models (1) are sceptical about the interest rate response of investment demand.
In extreme cases, monetary policy is not only weakly effective and with delays, but is completely ineffective. According to the New Keynesian theory, due to the inverse causal chain, no monetary transmission channel opens up at all.
1. Michal Kalecki, In Collected works of Michal Kalecki, Hrsg. Jerzy Osyatinski. Oxford 1973._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
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