Aspects of Modern Monetary and Macroeconomic Policies
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AbstractOver the last 30 years or so the developments in the area of monetary and macroeconomic policies have been quite substantial. Within the new consensus macroeconomics (NCM), 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. In this book a number of questions relating to this new monetary and macroeconomic policy approach are raised. NCM is compared to post-Keynesian alternatives on a theoretical level and the consequences of NCM for economic policy outcomes and macroeconomic performance are discussed. Finally, the book covers some empirical studies on recent monetary and macroeconomic policies in the Euro area, Germany and the UK.
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Bibliographic InfoThis book is provided by IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute in its series Conference proceedings of the Research Network Macroeconomics and Macroeconomic Policies (FMM) with number 9b-2007 and published in 2007.
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