P. Arestis & E. Hein 
Aspects of Modern Monetary and Macroeconomic Policies 

Within the New Consensus Macroeconomics, 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. This book raises problems relating to this new monetary and macroeconomic policy.

Table of Content

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

About the author

ANGEL ASENSIO Maître de Conférences, Centre d’Economie de Paris Nord (CEPN), Université Paris 13 – CNRS, France JÖRG BIBOW Assistant Professor of Economics, Skidmore College, Saratoga Springs, New York, USA; Research Associate, Levy Economics Institute of Bard College, Annandale-on-Hudson, New York, USA PETER FLASCHEL Professor of Economic Theory, Department of Economics and Business Administration, Bielefeld University, Germany CLAUDE GNOS Associate Professor, University of Burgundy, France; Head, Centre for Monetary and Financial Studies, Dijon, France PETER HOWELLS Reader in Economics, Bristol Business School, University of the West of England, Bristol, UK ELIAS KARAKITSOS Professor and Chairman of Global Economic Research; Associate Member, Cambridge Centre for Economic and Public Policy, University of Cambridge, UK THEODORE KOUTSOBINAS Assistant Professor, Department of Statistics, Actuarial Studies and Financial Mathematics, University of the Aegean, Samos, Greece; Teaching Fellow, Graduate Program, Department of Statistics, Athens University of Economics and Business, Athens, Greece BASIL MOORE Professor Extraordinary of Economics, Stellenbosch University, South Africa CHRISTIAN PROAÑO Department of Economics and Business Administration, Bielefeld University, Germany; Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation, Duesseldorf, Germany MALCOLM SAWYER Professor of Economics, University of Leeds, UK ELISABETH SPRINGLER Assistant Professor, Institute for Monetary and Fiscal Policy, Vienna University of Economics and Business Administration, Austria ACHIM TRUGER Senior Researcher, Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation, Duesseldorf, Germany