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Representations of knowledge in monetary policy processes: a discursive perspective

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  • Dana Gabor

    (SCEME, University of Stirling)

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    Abstract

    Exploring knowledge in monetary policy process stands to benefit by departing from conceptualizing knowledge as an objective depiction of reality, a neutral language of science underpinning technocratic policy-making. This paper proposes a postpositivist perspective, approaching knowledge production as a process of struggle over truth claims which structures policy action by establishing boundaries for policy choices. To contextualize the mechanisms of knowledge generation, it explores the adoption by the National Bank of Romania of a new policy framework, Inflation Targeting, in August 2005. This allows a mapping of the knowledge agenda, the knowing subjects allowed to participate in policy talk and avenues for contesting truth claims.

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    Bibliographic Info

    Paper provided by SCEME in its series SCEME Working Papers: Advances in Economic Methodology with number 019/2007.

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    Length: 22 pages
    Date of creation: Nov 2007
    Date of revision:
    Handle: RePEc:sti:wpaper:019/2007

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    Related research

    Keywords: discourse analysis; MPC; monetary policy;

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