The New Monetary Policy Implications And Relevance 1st Edition by Phillip Arestis, Michelle Baddeley, John S L McCombie ISBN 1845427939 9781845427931

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Product details:

ISBN 10: 1845427939 

ISBN 13: 9781845427931

Author: Phillip Arestis, Michelle Baddeley, John S.L. McCombie 

Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels. It goes on to illustrate that the explicit control of the money supply, which was fashionable in the 1970s and 1980s in the UK, US, Europe and elsewhere, was abandoned in favour of monetary rules that focus on interest rate manipulation by the central bank. The objective of these rules is to achieve specific, or a range of, inflation targets.

Table of contents:

Chapter 1: Introduction
Chapter 2: New Consensus Monetary Policy: An Appraisal
Chapter 3: Central Bank Behaviour and the Stability of Macroeconomic Equilibrium: A Critical Examination of the “New Consensus”
Chapter 4: Monetary Policy Divergences in the Euro Area: The Early Record of the European Central Bank
Chapter 5: Stock Market Prices and the Conduct of Monetary Policy under the New Consensus Monetary Policy
Chapter 6: On the US Post-“New Economy” Bubble: Should Asset Prices Be Controlled?
Chapter 7: Monetary Policy in the New Information Economy: Old Problems and New Challenges
Chapter 8: The Monetary Policy Outcomes Curve: Can the Size and Structure of Public Debt Undermine Policy Objectives?
Chapter 9: The Old Lady in New Clothes: Uncertainty and the UK Monetary Policy Framework
Chapter 10: The Experience of Inflation Targeting Since 1993
Chapter 11: Reflections on the Bank of Canada’s Monetary Policy Framework
Chapter 12: The Determinants of Saving in Developing Countries, and the Impact of Financial Liberalization
Chapter 13: Monetary Models and Inflation Targeting in Emerging Market Economies
Chapter 14: International Aspects of Current Monetary Policy 

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Tags: Phillip Arestis, Michelle Baddeley, John S L McCombie, Monetary Policy, Implications, Relevance