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Inflation Targeting by the ‘Tyrannical Auctioneer’: The Predominance of a Normative Approach in Monetary Policy

In: Employment, Growth and Development

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  • Etelberto Ortiz Cruz

Abstract

This topical book addresses unemployment in Europe, the wrong-headed reliance on NAIRU to formulate policy, distributional conflicts and financial factors, as well as problems faced in developing countries with respect to exchange rate policy, central banking, challenges to growth, and international financial flows. In the first part of the book the chapters deal with issues related to employment policies, economic growth and development while the second part is dedicated to development and growth issues in open-economy developing countries.

Suggested Citation

  • Etelberto Ortiz Cruz, 2012. "Inflation Targeting by the ‘Tyrannical Auctioneer’: The Predominance of a Normative Approach in Monetary Policy," Chapters, in: Claude Gnos & Louis-Philippe Rochon & Domenica Tropeano (ed.), Employment, Growth and Development, chapter 14, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13255_14
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    References listed on IDEAS

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    1. Paul Davidson, 1994. "Post Keynesian Macroeconomic Theory," Books, Edward Elgar Publishing, number 124.
    2. Allsop, Christopher & Vines, David, 2000. "The Assessment: Macroeconomic Policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 16(4), pages 1-32, Winter.
    3. Ben S. Bernanke & Frederic S. Mishkin, 1997. "Inflation Targeting: A New Framework for Monetary Policy?," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 97-116, Spring.
    4. Louis-Philippe Rochon, 1999. "Credit, Money and Production," Books, Edward Elgar Publishing, number 1565.
    5. Claude Gnos & Louis-Philippe Rochon & Domenica Tropeano (ed.), 2012. "Employment, Growth and Development," Books, Edward Elgar Publishing, number 13255.
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