Advances in monetary policy and macroeconomics / edited by Philip Arestis and Gennaro Zezza.

Format:

Book

Contributor:

Arestis, Philip, 1941-

Zezza, Gennaro.

Language:

English

Subjects (All):

Monetary policy--Congresses.

Monetary policy.

Macroeconomics--Congresses.

Macroeconomics.

Econometric models--Congresses.

Econometric models.

Genre:

Conference papers and proceedings.

Physical Description:

xi, 306 pages : illustrations ; 23 cm

Place of Publication:

Basingstoke [England] ; New York : Palgrave Macmillan, 2007.

Summary:

In the post-war period, the macroeconomic modelling of developed economies was mainly rooted in Keynesian theory up to the 1970s, when the failure of applied models to deal with stagflation led to a shift in economic theory towards supply-side models, rational expectations and optimizing behaviour. However, theoretical macroeconomic models are developed and discussed among economists of a Keynesian persuasion. This book collects state-of-the-art results in what one may broadly label as Keynesian macroeconomic modelling, both on theoretical and empirical grounds.

Contents:

2 Monetary Policy with Firms' Bank Dependence and Default Risk / Giuliana Passamani, Roberto Tamborini 7

3 Assessing the New Keynesian Phillips Curves Under Competing Expectation Hypothesis / Olivier Musy, Sebastien Pommier 28

4 The Taylor Rule and Financial Derivatives: The Case of Options / Chiara Oldani 50

5 Credit Risk Management: Rationing vs Credit Derivatives and Consequences for Financial Stability / Stefania Vanacore 66

6 Animal Spirits, Confidence and Monetary Policy / Muriel Dal-Pont Legrand, Dominque Torre, Elise Tosi 92

7 Asymmetries as Sources of Conflict in a Monetary Union / Philip Arestis, Georgios Chortareas, Theodore Pelagidis 106

8 Alternative Fiscal Policy Rules and the Stabilization Problem in EMU: Theory and Simulations / Jorge Uxo, M. Jesus Arroyo 123

9 On the Minskyan Business Cycle / Korkut A. Erturk 158

10 Minsky's Vision and its Relationship with The General Theory / Elisabetta De Antoni 174

11 Towards a Spatial Keynesian Economics / William Mitchell, James Juniper 192

12 Monetary Shocks and Real Exchange Rate Dynamics / Daniela Federici, Sergio Santoro 212

13 Macroeconomic Risk Evaluation of International Reserves in Venezuela / Carolina Pagliacci, Elizabeth Ochoa 233

14 World Bank Trade Models and the Doha Debate / Rudi von Arnim, Lance Taylor 257

15 Technology, Capital Flows and the Balance of Payments Constraint in a Structuralist North-South Model / Marcelo Curado, Gabriel Porcile, Ricardo Viana 280.

Notes:

Includes bibliographical references and index.

ISBN:

0230004946

9780230004948

OCLC:

71779078

Online:

Contributor biographical information

Publisher description