inflation. This paper shows that previously shown results are robust to changes in the specification of interest rate rigidity …. Results investigated include: (1) the procyclicality of inflation, (2) inflation control through interest rate manipulation,(3 …) the persistence of inflation since World War II, (4) the Great Moderation under inflation targeting, (5) real rate …

with an investment function very close to Kalecki's original writings. The effects of interest rate variations on the short … endogenously determined equilibrium values of the model do not only depend on the parameter values in the saving and investment … growth with respect to the specification of the investment function. …

/policy interest rate for the emerging countries is more to global inflation, for the advanced countries (excluding the U.S.) is more … to global output, and for the U.S. is to both global output and inflation …