Aspects Of Modern Monetary And Macroeconomic Policies

Hardcover | June 15, 2007

EditorPhilip Arestis, Eckhard Hein, Edwin Heron

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Over the last thirty years or so the developments in the area of monetary and macroeconomic policies have been quite substantial. Within the new consensus macroeconomics (NCM), monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. There are a number of problems relating to this new monetary and macroeconomic policy approach which are raised in this book.

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Over the last thirty years or so the developments in the area of monetary and macroeconomic policies have been quite substantial. Within the new consensus macroeconomics (NCM), monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targ...

PHILIP ARESTIS is University Director of Research, Cambridge Centre for Economic and Public Policy, University of Cambridge, Senior Research Fellow, Wolfson College Cambridge, UK, and Professor of Economics at the Levy Economics Institute, New York City, USA. His publications include Introducing Macroeconomic Modelling: An Econometric...
Format:HardcoverDimensions:256 pages, 8.5 × 5.5 × 0.69 inPublished:June 15, 2007Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230007937

ISBN - 13:9780230007932

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Table of Contents

List of Tables and Figures * Notes on the Contributors * Introduction--Philip Arestis, Eckhard Hein & Edwin Le Heron * Does Inflation Targeting Increase the Deflationary Bias in the World Economy?--Basil Moore * What is Endogenous when Monetary Policy is Transparent?--Peter Howells * Monetary Policy Formation at The Long-Term Margin: A Kahn-Tobin Framework--Theodore T. Koutsobinas * Bank Lending and Regulation in Insider Financial Systems: A Theoretical Assessment--Elisabeth Springler * Monetary and Budgetary-Fiscal Policy Interactions in a Keynesian Context: Revisiting Macroeconomic Governance--Angel Asensio * Monetary Policy from a Circuitist Perspective--Claude Gnos * A Policy-Game Framework for the Dollar-Euro Exchange Rate--Philip Arestis & Elias Karakitsos * The New Governance in Monetary Policy: A Critical Appraisal of the Fed and the ECB--Edwin Le Heron * AS-AD Disequilibrium Dynamics and the Taylor Interest Rate Policy Rule: Euro-Area Based Estimation and Simulation--Peter Flaschel & Christian R.Proaño * How The Maastricht Regime Fosters Divergence as well as Instability--Jörg Bibow * Germany's Post-2000 Stagnation in the European Context - A Lesson in Macroeconomic Mismanagement--Eckhard Hein & Achim Truger * Macroeconomic Policy in the UK under New Labour: The End of Boom and Bust?--Philip Arestis & Malcolm Sawyer * Index