Description
Book SynopsisThis is the first of three volumes, written by an internationally renowned group of experts, to celebrate the contribution of Bernard Corry and Maurice Peston to teaching and research.
In this first volume, the distinguished contributors provide original material on the formulation of macroeconomic policy in advanced countries ranging from a study of central bank independence, the consequences of European monetary union and macroeconomic policy in transition economies.
Table of ContentsContents: Introduction Part I: The Trend of Macroeconomic Policy 1. Notes on Inflation Targeting 2. Kalecki’s ‘Political Aspects of Full Employment’ Revisited 3. Post Keynesian Economic Policy Part II: The Independent Central Bank 4. The Privatization of Monetary Policy 5. Emergency Changes in Monetary Policy 6. Central Bank Independence Has Costs, Not Just Benefits 7. What are the Central Bank’s and the Private Sector’s Objectives? Part III: Emerging Problems in Macroeconomic Policy 8. The Economics and Politics of European Monetary Union 9. Convergence in European Bond Markets 10. Severe Fiscal Contradictions and Expansions Part IV: Macroeconomic Policy Beyond the OECD 11. Non-linear Hyperinflationary Exchange Rate Dynamics 12. Islands of Tranquillity in a Turbulent World? Index
