{"id":"https://openalex.org/W3112200027","doi":"https://doi.org/10.1080/13563467.2020.1858774","title":"Pushing on a String: Monetary Policy, Growth Models and the Persistence of Low Inflation in Advanced Capitalism","display_name":"Pushing on a String: Monetary Policy, Growth Models and the Persistence of Low Inflation in Advanced Capitalism","publication_year":2020,"publication_date":"2020-12-15","ids":{"openalex":"https://openalex.org/W3112200027","doi":"https://doi.org/10.1080/13563467.2020.1858774","mag":"3112200027"},"language":"en","primary_location":{"id":"doi:10.1080/13563467.2020.1858774","doi":"https://doi.org/10.1080/13563467.2020.1858774","is_oa":false,"landing_page_url":"https://doi.org/10.1080/13563467.2020.1858774","pdf_url":null,"source":{"id":"https://openalex.org/S146242404","display_name":"New Political Economy","issn_l":"1356-3467","issn":["1356-3467","1469-9923"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"New Political Economy","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5026619801","display_name":"Hielke Van Doorslaer","orcid":"https://orcid.org/0000-0002-9184-6305","observed_orcids":["https://orcid.org/0000-0002-9184-6305"]},"institutions":[{"id":"https://openalex.org/I32597200","display_name":"Ghent University","ror":"https://ror.org/00cv9y106","country_code":"BE","type":"education","lineage":["https://openalex.org/I32597200"]}],"countries":["BE"],"is_corresponding":false,"raw_author_name":"Hielke Van Doorslaer","raw_affiliation_strings":["Ghent Institute for International Studies, Ghent University, Ghent, Belgium"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Ghent Institute for International Studies, Ghent University, Ghent, Belgium","institution_ids":["https://openalex.org/I32597200"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5069765599","display_name":"Mattias Vermeiren","orcid":"https://orcid.org/0000-0003-4292-0270","observed_orcids":["https://orcid.org/0000-0003-4292-0270"]},"institutions":[{"id":"https://openalex.org/I32597200","display_name":"Ghent University","ror":"https://ror.org/00cv9y106","country_code":"BE","type":"education","lineage":["https://openalex.org/I32597200"]}],"countries":["BE"],"is_corresponding":true,"raw_author_name":"Mattias Vermeiren","raw_affiliation_strings":["Ghent Institute for International Studies, Ghent University, Ghent, Belgium"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Ghent Institute for International Studies, Ghent University, Ghent, Belgium","institution_ids":["https://openalex.org/I32597200"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5069765599"],"corresponding_institution_ids":["https://openalex.org/I32597200"],"apc_list":null,"apc_paid":null,"fwci":13.2828,"has_fulltext":false,"cited_by_count":61,"citation_normalized_percentile":{"value":0.98776257,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":100},"biblio":{"volume":"26","issue":"5","first_page":"797","last_page":"816"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.9609000086784363,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.9609000086784363,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.03350000083446503,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11743","display_name":"Political Economy and Marxism","score":0.003700000001117587,"subfield":{"id":"https://openalex.org/subfields/3312","display_name":"Sociology and Political Science"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/quantitative-easing","display_name":"quantitative easing","score":0.7910000085830688},{"id":"https://openalex.org/keywords/monetary-policy-effectiveness","display_name":"monetary policy effectiveness","score":0.8289999961853027},{"id":"https://openalex.org/keywords/low-inflation","display_name":"low inflation","score":0.7070000171661377},{"id":"https://openalex.org/keywords/post-keynesian-economics","display_name":"post-Keynesian economics","score":0.906000018119812},{"id":"https://openalex.org/keywords/debt-led-growth","display_name":"debt-led growth","score":0.7149999737739563},{"id":"https://openalex.org/keywords/export-led-growth","display_name":"export-led growth","score":0.9990000128746033},{"id":"https://openalex.org/keywords/advanced-capitalist-countries","display_name":"advanced capitalist economies","score":0.671999990940094}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8875956535339355},{"id":"https://openalex.org/C196345963","wikidata":"https://www.wikidata.org/wiki/Q4175604","display_name":"Allocative efficiency","level":2,"score":0.6578664779663086},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.5948758125305176},{"id":"https://openalex.org/C10688316","wikidata":"https://www.wikidata.org/wiki/Q936174","display_name":"New Keynesian economics","level":3,"score":0.5618680119514465},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5462294816970825},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.47379109263420105},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.4706308841705322},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.44890397787094116},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.43561217188835144},{"id":"https://openalex.org/C203379541","wikidata":"https://www.wikidata.org/wiki/Q1801078","display_name":"Aggregate demand","level":3,"score":0.4336872696876526},{"id":"https://openalex.org/C185824701","wikidata":"https://www.wikidata.org/wiki/Q1193759","display_name":"Inflation targeting","level":3,"score":0.42937564849853516},{"id":"https://openalex.org/C524878704","wikidata":"https://www.wikidata.org/wiki/Q187021","display_name":"Fiscal policy","level":2,"score":0.4128768742084503},{"id":"https://openalex.org/C133425853","wikidata":"https://www.wikidata.org/wiki/Q60571","display_name":"Neoclassical economics","level":1,"score":0.0949353277683258},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1080/13563467.2020.1858774","doi":"https://doi.org/10.1080/13563467.2020.1858774","is_oa":false,"landing_page_url":"https://doi.org/10.1080/13563467.2020.1858774","pdf_url":null,"source":{"id":"https://openalex.org/S146242404","display_name":"New Political Economy","issn_l":"1356-3467","issn":["1356-3467","1469-9923"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"New Political Economy","raw_type":"journal-article"},{"id":"pmh:oai:archive.ugent.be:8692350","doi":null,"is_oa":false,"landing_page_url":"https://biblio.ugent.be/publication/8692350","pdf_url":null,"source":{"id":"https://openalex.org/S4306400478","display_name":"Ghent University Academic Bibliography (Ghent University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I32597200","host_organization_name":"Ghent University","host_organization_lineage":["https://openalex.org/I32597200"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"New Political Economy","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:RePEc:taf:cnpexx:v:26:y:2021:i:5:p:797-816","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/13563467.2020.1858774","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:archive.ugent.be:8692349","doi":null,"is_oa":false,"landing_page_url":"https://biblio.ugent.be/publication/8692349","pdf_url":null,"source":{"id":"https://openalex.org/S4306400478","display_name":"Ghent University Academic Bibliography (Ghent University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I32597200","host_organization_name":"Ghent University","host_organization_lineage":["https://openalex.org/I32597200"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"ISSN: 1469-9923","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.6100000143051147,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":98,"referenced_works":["https://openalex.org/W281610189","https://openalex.org/W281788982","https://openalex.org/W337771658","https://openalex.org/W424146720","https://openalex.org/W651558679","https://openalex.org/W1876057159","https://openalex.org/W2002211987","https://openalex.org/W2021347988","https://openalex.org/W2051368365","https://openalex.org/W2074630140","https://openalex.org/W2080523747","https://openalex.org/W2089900654","https://openalex.org/W2101244523","https://openalex.org/W2103813257","https://openalex.org/W2106577886","https://openalex.org/W2116446637","https://openalex.org/W2169122888","https://openalex.org/W2176443863","https://openalex.org/W2192993715","https://openalex.org/W2261897608","https://openalex.org/W2277614984","https://openalex.org/W2291513079","https://openalex.org/W2341219529","https://openalex.org/W2400424611","https://openalex.org/W2410333912","https://openalex.org/W2480482584","https://openalex.org/W2493685823","https://openalex.org/W2517796957","https://openalex.org/W2549609012","https://openalex.org/W2556360926","https://openalex.org/W2562830873","https://openalex.org/W2564654994","https://openalex.org/W2577531776","https://openalex.org/W2578272978","https://openalex.org/W2579544150","https://openalex.org/W2586972408","https://openalex.org/W2591617261","https://openalex.org/W2610266755","https://openalex.org/W2613859063","https://openalex.org/W2734813687","https://openalex.org/W2754080204","https://openalex.org/W2757221973","https://openalex.org/W2757609510","https://openalex.org/W2761641335","https://openalex.org/W2761751423","https://openalex.org/W2766761848","https://openalex.org/W2767362276","https://openalex.org/W2777321929","https://openalex.org/W2786399302","https://openalex.org/W2789354268","https://openalex.org/W2810705582","https://openalex.org/W2889013418","https://openalex.org/W2890893151","https://openalex.org/W2896717298","https://openalex.org/W2901779804","https://openalex.org/W2904084076","https://openalex.org/W2907685422","https://openalex.org/W2918011669","https://openalex.org/W2919037540","https://openalex.org/W2939407484","https://openalex.org/W2940776125","https://openalex.org/W2946564153","https://openalex.org/W2946615385","https://openalex.org/W2947326622","https://openalex.org/W2955036314","https://openalex.org/W2955599510","https://openalex.org/W2955787615","https://openalex.org/W2965470632","https://openalex.org/W2969772043","https://openalex.org/W2977475215","https://openalex.org/W2984755693","https://openalex.org/W2987775570","https://openalex.org/W2999030954","https://openalex.org/W3008276635","https://openalex.org/W3032212026","https://openalex.org/W3038883455","https://openalex.org/W3080810675","https://openalex.org/W3122026978","https://openalex.org/W3122272225","https://openalex.org/W3122801962","https://openalex.org/W3123293955","https://openalex.org/W3123334079","https://openalex.org/W3123639795","https://openalex.org/W3124235823","https://openalex.org/W3124662051","https://openalex.org/W3124726781","https://openalex.org/W3124738573","https://openalex.org/W3136134604","https://openalex.org/W3157678812","https://openalex.org/W3157963567","https://openalex.org/W3184530098","https://openalex.org/W3212026773","https://openalex.org/W4238799587","https://openalex.org/W4239780417","https://openalex.org/W4285719527","https://openalex.org/W4290016560","https://openalex.org/W6885991319","https://openalex.org/W7067496195"],"related_works":["https://openalex.org/W2502668697","https://openalex.org/W7099666144","https://openalex.org/W7140136736","https://openalex.org/W1576738797","https://openalex.org/W3143711182","https://openalex.org/W2504514634","https://openalex.org/W2230938823","https://openalex.org/W1580242731","https://openalex.org/W1576003500","https://openalex.org/W2487009101"],"abstract_inverted_index":{"In":[0,42,80],"this":[1,101],"article":[2],"we":[3,47,85],"examine":[4],"the":[5,32,50,57,62,71,89,92,112,122,143],"limited":[6],"effectiveness":[7],"of":[8,35,44,53,59,61,73,82,91,108,114,124,130,145,152,154,174],"major":[9],"advanced":[10,96],"central":[11,125,175],"banks\u2019":[12,126],"expansionary":[13],"measures":[14],"\u2013":[15,20],"particularly":[16],"quantitative":[17],"easing":[18],"(QE)":[19],"in":[21,75,95,133,162],"raising":[22],"inflation":[23],"from":[24,38,103],"a":[25,104,146],"post-Keynesian":[26,105],"growth":[27,64,67,78,166],"model":[28,107],"perspective":[29],"that":[30,136],"distinguishes":[31],"sectoral-allocative":[33,45],"effects":[34],"these":[36,77],"policies":[37],"their":[39],"class-distributive":[40,83],"effects.":[41],"terms":[43,81],"effects,":[46,84],"empirically":[48],"link":[49],"weak":[51],"recovery":[52],"aggregate":[54],"demand":[55],"to":[56,88,111,121,135,142,171,177],"lack":[58],"rebalancing":[60],"debt-led":[63,163],"and":[65,69,99,158,164],"export-led":[66,165],"models":[68],"highlight":[70],"role":[72,123],"QE":[74],"reproducing":[76],"models.":[79],"draw":[86],"attention":[87],"flattening":[90,102],"Phillips":[93],"curve":[94],"capitalist":[97],"economies":[98],"explain":[100],"conflict":[106],"inflation,":[109],"pointing":[110],"weakening":[113],"labour\u2019s":[115],"bargaining":[116],"power":[117],"as":[118,120],"well":[119],"overly":[127],"premature":[128],"withdrawal":[129],"monetary":[131,156],"stimulus":[132],"contributing":[134],"weakening.":[137],"Finally,":[138],"our":[139],"analysis":[140],"points":[141],"entrenchment":[144],"self-defeating":[147],"macroeconomic":[148],"policy":[149,157],"mix":[150],"(consisting":[151],"combination":[153],"loose":[155],"restrictive":[159],"fiscal":[160],"policy)":[161],"models,":[167],"which":[168],"will":[169],"continue":[170],"thwart":[172],"efforts":[173],"banks":[176],"significantly":[178],"raise":[179],"inflation.":[180]},"counts_by_year":[{"year":2026,"cited_by_count":17},{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":27},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":2}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2020-12-21T00:00:00"}