Central banking, monetary policy and income distribution / edited by Sylvio Kappes, (Assistant Professor, Federal University of Ceará, Brazil and Coordinator, Keynesian Economics Working Group, Young Scholars Initiative), Louis-Philippe Rochon (Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics), and Guillaume Vallet (Associate Professor, Universit ̌Grenoble Alpes and Research Fellow, Centre de Recherche en Economie de Grenoble (CREG), France).

Format:

Book

Contributor:

Kappes, Sylvio, editor.

Rochon, Louis-Philippe, editor.

Vallet, Guillaume, editor.

Edward Elgar Publishing, publisher.

Series:

The Elgar series on central banking and monetary policy

Language:

English

Subjects (All):

Banks and banking, Central.

Monetary policy.

Income distribution.

Genre:

Electronic books.

Physical Description:

1 online resource (302 pages).

Place of Publication:

Northampton : Edward Elgar Publishing, 2023.

Summary:

"Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and income distribution. The usual central bank mandate - that of exclusively fighting inflation - is being increasingly questioned by policymakers and academics. Many countries are finding that there is a need for broader mandates that will have an impact on economic activity, unemployment and other economic issues. The chapters present a multitude of theoretical views on this topic, from classical and Marxist views to mainstream and post-Keynesian approaches. They consider the democratic aspects of central banking, critically assess the distributional outcomes of inflation targeting regimes and explore policymaking implications. Policy makers, academics and the financial press will appreciate the relevance of the material and state of the art discussions featured in Central Banking, Monetary Policy and Income Distribution"-- Provided by publisher.

Contents:

Contents: Introduction to central banking, monetary policy and income distribution / Sylvio Kappes, Louis-Philippe Rochon and Guillaume Vallet

Part I. Theory

1. A primer on monetary policy and its effect on income distribution: A heterodox perspective / Louis-Philippe Rochon and Mario Seccareccia

2. Monetary policy and functional income distribution: A marxist view / Marcelo Milan

3. Savings glut, secular stagnation, demographic reversal, and inequality: Beyond conventional explanations of lower interest rates / Matías Vernengo

4. The evolution of monetary institutions and of the theory of money: The value of a monetary theory of production and distribution / Michel Betancourt, Santiago Capraro, Carlo Panico and Luis Daniel Torres-González

5. Monetary policy and the distribution of income in a transfer theory of debt / Jan Toporowski

Part II. Evidence

6. Monetary policy and income distribution / James K. Galbraith

7. The rate of interest and income distribution: An examination of the pasinetti Index.n Latin America / Noemi Levy-Orlik and Jorge Bustamante

8. Why central bank policy is not income-distribution 'neutral': History, theory and practice / Mario Seccareccia and Guillermo Matamoros Romero

Part III. Policy

9. Advancing the monetary policy toolkit through outright transfers and tiered reserve remuneration / Sascha Bützer

10. On interest and interest-rate policy / Massimo Pivetti

11. The distributional impacts of inflation-targeting strategies / Sergio Rossi

Index.

Notes:

Includes bibliographical references and index.

ISBN:

9781800371934 (e-book)

Access Restriction:

Restricted for use by site license.