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

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


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About the Book

Has the economic and financial crisis changed the way we conduct monetary policy? Is quantitative easing consistent with the endogeneity of money? These are but two of the questions this new book explores. The various contributors offer interesting and new perspectives on the conduct of monetary policy during the crisis, and provide sharp criticism of central bank policies in the US and Europe. Divided into two parts, this book presents a detailed, multi-faceted analysis of banking and monetary policy. The first part examines the role of central banks within an endogenous money framework. These chapters address post-Keynesian interest rate policy, monetary mercantilism, financial market organization and developing economies. In the second part of the book, the focus switches to the analysis of the financial crisis that began in 2007. The chapters in this section discuss the role of central banks in times of crisis. Monetary Policy and Central Banking is a must read for all those interested in the critical analysis of monetary policy. Students and scholars of post-Keynesian economics, banking, and financial crises will find this book of particular 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, K. von Seekamm

Table of Contents:
Contents: Introduction Louis-Philippe Rochon and Salewa ’Yinka Olawoye PART I: CENTRAL BANKING AND MONETARY POLICY 1. Between the Cup and the Lip: On Post Keynesian Interest Rate Rules and Long-term Interest Rate Management Angel Asensio 2. Stabilization Policy with an Endogenous Commercial Bank Mark Setterfield and Kurt von Seekamm 3. Capitalism in One Country? A Re-examination of Mercantilist Systems from the Financial Point of View Eric Kam and John Smithin 4. Proposals for the Banking System, the FDIC, the Fed, and the Treasury Warren Mosler 5. Financial Market Organizations, Central Banks and Credits: The Experience of Developing Economies Noemi Levy-Orlik PART II: CENTRAL BANK POLICY IN TIMES OF CRISIS 6. Financial Crisis, State of Confidence, and Economic Policies in a Post Keynesian Stock-flow Consistent Model Edwin Le Heron 7. Central Bank Responses to Financial Crises: Lenders of Last Resort in Interesting Times Robert Dimand and Robert Koehn 8. Central Banking in a Systemic Crisis: The Federal Reserve’s ‘Credit Easing’ Robert Guttmann 9. Monetary Policy in a Period of Financial Chaos: The Political Economy of the Bank of Canada in Extraordinary Times Marc Lavoie and Mario Seccareccia 10. The Euro and its Guardian of Stability: Fiction and Reality of the 10th Anniversary Blast Jörg Bibow 11. Quantitative Easing in the United States After the Crisis: Conflicting Views Domenica Tropeano Index

About the Author :
Edited by Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics and Salewa 'Yinka Olawoye, Doctoral Student, University of Missouri-Kansas City, US


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Product Details
  • ISBN-13: 9781781954119
  • Publisher: Edward Elgar Publishing Ltd
  • Publisher Imprint: Edward Elgar Publishing Ltd
  • Height: 234 mm
  • No of Pages: 272
  • Width: 156 mm
  • ISBN-10: 1781954119
  • Publisher Date: 31 Oct 2013
  • Binding: Paperback
  • Language: English
  • Sub Title: New Directions in Post-Keynesian Theory


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