Aspects of Modern Monetary and Macroeconomic Policies

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 M

'...this book provides a good overview of the varieties of ongoing research in heterodox economics. It can thus deliver some fresh ideas beyond the NCM and help to overcome the uncritical approach to the assumptions of standard economic theory.' - Jan-Oliver Menz, INTERVENTION - European Journal of Economics and Economic Policies

• 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