On 4/9/2014 2:40 AM, Steve Kates wrote:
> I am doing some work on Keynesian economics in the period following the Global Financial Crisis. It just may be that I do not know where to look but I
> am having trouble finding articles of any kind criticising Keynesian models and the theory behind public sector spending and the stimulus. Can anyone
> help?


The problem for such a project is that monetary and fiscal stimulus
is generally accepted to have worked to dampen the impacts of the GFC.
Your own country provides a well known example of this.  Naturally
you now have debt issues to grapple with, so softening the impact
was not free.

However there has been some work suggesting that one-off cash payments
like those in Australia and the U.S. did little to stimulate
consumption expenditures.  One might try to interpret this as evidence
in favor of a permanent-income based response, in conflict with old-style
Keynesian propensities to consume. (However, even if the estimates are
correct, it might be precautionary saving in the face of increased
economic uncertainty.)  Anyway, here's an example that considers AU:
http://goo.gl/FYtbTe

hth,
Alan Isaac