Aspects of Modern Monetary and Macroeconomic Policies

ANGEL ASENSIO Maitre de Conferences, Centre d'Economie de Paris Nord (CEPN), Universite Paris 13 - CNRS, France JA-RG BIBOW Assistant Professor of Economics, Skidmore College, Saratoga Springs, New York, USA; Research Associate, Levy Economics Institute of Bard College, Annandale-on-Hudson, New York, USA PETER FLASCHEL Professor of Economic Theory, Department of Economics and Business Administration, Bielefeld University, Germany CLAUDE GNOS Associate Professor, University of Burgundy, France; Head, Centre for Monetary and Financial Studies, Dijon, France PETER HOWELLS Reader in Economics, Bristol Business School, University of the West of England, Bristol, UK ELIAS KARAKITSOS Professor and Chairman of Global Economic Research; Associate Member, Cambridge Centre for Economic and Public Policy, University of Cambridge, UK THEODORE KOUTSOBINAS Assistant Professor, Department of Statistics, Actuarial Studies and Financial Mathematics, University of the Aegean, Samos, Greece; Teaching Fellow, Graduate Program, Department of Statistics, Athens University of Economics and Business, Athens, Greece BASIL MOORE Professor Extraordinary of Economics, Stellenbosch University, South Africa CHRISTIAN PROA O Department of Economics and Business Administration, Bielefeld University, Germany; Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation, Duesseldorf, Germany MALCOLM SAWYER Professor of Economics, University of Leeds, UK ELISABETH SPRINGLER Assistant Professor, Institute for Monetary and Fiscal Policy, Vienna University of Economics and Business Administration, Austria ACHIM TRUGER Senior Researcher, Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation, Duesseldorf, Germany

Within the New Consensus Macroeconomics, 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. This book raises problems relating to this new monetary and macroeconomic policy.Within the New Consensus Macroeconomics, 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. This book raises problems relating to this new monetary and macroeconomic policy.