By Louis-Philippe Rochon, Salewa 'Yinka Olawoye

Has the commercial and monetary concern replaced the best way we behavior financial coverage? Is quantitative easing in keeping with the endogeneity of cash? those are yet of the questions this new publication explores. a number of the individuals provide fascinating and new views at the behavior of financial coverage in the course of the main issue, and supply sharp feedback of important financial institution rules within the US and Europe.

Divided into components, this ebook provides an in depth, multi-faceted research of banking and financial coverage. the 1st half examines the position of principal banks inside an endogenous cash framework. those chapters deal with post-Keynesian rate of interest coverage, financial mercantilism, monetary industry association and constructing economies. within the moment a part of the booklet, the point of interest switches to the research of the monetary hindrance that begun in 2007. The chapters during this part speak about the position of valuable banks in occasions of crisis.

Monetary coverage and crucial Banking is a needs to learn for all these attracted to the severe research of economic coverage. scholars and students of post-Keynesian economics, banking, and fiscal crises will locate this ebook of specific relevance.

Contributors: A. Asensio, J. Bibow, R. Dimand, R. Guttmann, E. Kam, R. Koehn, M. Lavoie, E. Le Heron, N. Levy-Orlik, W. Mosler, S. Olawoye, L.-P. Rochon, M. Seccareccia, M. Setterfield, J. Smithin, D. Tropeano, ok. von Seekamm.

Show description

Read Online or Download Monetary Policy and Central Banking: New Directions in Post-Keynesian Theory PDF

Similar money & monetary policy books

Developing Government Bond Markets: A Handbook

This instruction manual offers an summary of the foremost coverage issues for constructing a central authority securities industry. It additionally bargains an in depth description of the coverage matters, together with issues for implementation. This guide covers such issues because the linkages with cash markets and financial coverage operations, guidelines had to improve an issuing approach, debt-management concerns to construct credibility, and the reforms essential to advertise institutional funding.

A Program For Monetary Stability

Ebook by way of Friedman, Milton

Marx on money

The republication of Suzanne de Brunhoff’s vintage research into Karl Marx’s belief of “the cash commodity” shines mild on commodities and their fetishism. The research of cash because the crystallization of price in its fabric feel is relevant to how we comprehend capitalism and the way it may be abolished.

The Social Origins of Human Rights: Protesting Political Violence in Colombia’s Oil Capital, 1919–2010

Human rights activism is frequently linked to overseas companies that attempt to impact the habit of abusive states around the world. In Barrancabermeja, Colombia, argues Luis van Isschot within the Social beginning of Human Rights, the fight for rights has emerged extra organically and in the neighborhood, out of a protracted historical past of civil and social organizing.

Extra resources for Monetary Policy and Central Banking: New Directions in Post-Keynesian Theory

Sample text

Of course, at the macroeconomic level there must be an impact on the factor costs (capital goods, oil, indexed wages, and so on) if the production prices are to be increased. In accordance with the discussion above, if the liquidity withdrawing process is not rapid enough to offset the decrease in liquidity preference, temporary inflationary pressures may develop until it is achieved. This solution could also further damage the financial system, as discussed above. See Le Héron (2006, 2007) for an analysis of Alan Greenspan’s strategy in terms of confidence versus credibility.

3. 4. The current depression is damaging the public accounts both because of the expenditures that are automatically and/or deliberately triggered by the economic slump and because of the decrease in government fiscal revenues. This is impacting on the state of confidence both directly (for increases in public debts make economic agents expect possible future taxes and/or inflation18 aimed at reducing the real value of the debt) and indirectly (for authorities’ capacity to support the economic activity will be harmed by a higher public debt).

18. Monetary policy and central banking According to Keynes, “The social philosophy towards which the General Theory might lead” (Keynes, 1936: 374–7) focuses on our ability to manage the rate of interest so as to rise the inducement to invest to the level where, given the aggregate propensity to consume (including the state), full employment holds. Now, insofar as the accumulation of capital decreases the marginal efficiency of capital, a decrease in the long-term interest rate will be necessary in the long run.

Download PDF sample

Rated 4.84 of 5 – based on 31 votes