Aspects of Modern Monetary and Macroeconomic Policies

by Arestis, Philip; Hein, Eckhard; Heron, Edwin

• ISBN13: 9780230007932
• ISBN10: 0230007937
• Edition: 1st
• Format: Hardcover
• Copyright: 2007-06-15
• Publisher: Palgrave Macmillan

Summary

This book is critical of new consensus macroeconomics and discusses the implications of this approach for monetary and macroeconomic policies.

Author Biography

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 Study of the United Kingdom, Money, Pricing Distribution and Economic Integration, What Global Economic Crisis?, The Post-Bubble USA Economy, Financial Liberalization and Financial Developments in National and International Markets. He has been editor and joint editor, and has served on the editorial board of a number of journals.

ECKHARD HEIN is Senior Researcher at the Macroeconomic Policy Institute (IMK) in the Hans Boeckler Foundation, Duesseldorf, Germany, and Visiting Professor at Carl von Ossietzky University, Oldenburg, Germany.

EDWIN LE HERON is Maître de Conférences in Economics, Sciences Po Bordeaux, France; President of the ADEK (French Association for Development of the Keynesian Studies).

Table of Contents

Introduction

Does Inflation Targeting Increase the Deflationary Bias in the World Economy?

What is Endogenous when Monetary Policy is Transparent?

Monetary Policy Formation at The Long-Term Margin: A Kahn-Tobin Framework

Bank Lending and Regulation in Insider Financial Systems: A Theoretical Assessment

Monetary and Budgetary-Fiscal Policy Interactions in a Keynesian Context: Revisiting Macroeconomic Governance

Monetary Policy from a Circuitist Perspective

A Policy-Game Framework for the Dollar-Euro Exchange Rate

The New Governance in Monetary Policy: A Critical Appraisal of the Fed and the ECB

AS-AD Disequilibrium Dynamics and the Taylor Interest Rate Policy Rule: Euro-Area Based Estimation and Simulation

How The Maastricht Regime Fosters Divergence as well as Instability

Germany's Post-2000 Stagnation in the European Context

A Lesson in Macroeconomic Mismanagement

Macroeconomic Policy in the UK under New Labour: The End of Boom and Bust?

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