The New Monetary Policy

Edited by Philip Arestis, Michelle Baddeley and John McCombie

in Books from Edward Elgar Publishing

Abstract: Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels. It goes on to illustrate that the explicit control of the money supply, which was fashionable in the 1970s and 1980s in the UK, US, Europe and elsewhere, was abandoned in favour of monetary rules that focus on interest rate manipulation by the central bank. The objective of these rules is to achieve specific, or a range of, inflation targets.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: D7 (search for similar items in EconPapers)
Date: 2005
ISBN: 9781843769545
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Citations: View citations in EconPapers (12)

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Chapters in this book:

Ch 1 Introduction

Philip Arestis, Michelle Baddeley and John McCombie

Ch 2 New Consensus Monetary Policy: and appraisal

Philip Arestis and Malcolm Sawyer

Ch 3 Central bank behaviour and the stability of macroeconomic equilibrium: a critical examination of the 'New Consensus'

Mark Setterfield

Ch 4 Monetary policy divergences in the euro area: the early record of the European Central Bank

Georgios Chortareas

Ch 5 Stock market prices and the conduct of monetary policy under the New Consensus Monetary policy

Nigel Allington and John McCombie

Ch 6 On the US post-'new economy' bubble: should asset prices be controlled?

Philip Arestis and Elias Karakitsos

Ch 7 Monetary policy in the new information economy: old problems and new challenges

Michelle Baddeley and Giuseppe Fontana

Ch 8 The monetary policy outcomes curve: can the size and structure of public debt undermine policy objectives?

Stephanie Kelton and Rex Ballinger

Ch 9 The Old Lady in new clothes: uncertainty and the UK monetary policy framework

Mark Roberts

Ch 10 The experience of inflation targeting since 1993

Charles Goodhart

Ch 11 Reflections on the Bank of Canada's monetary policy framework

Charles Freedman

Ch 12 The determinants of saving in developing countries, and the impact of financial liberalization

Anthony Thirlwall

Ch 13 Monetary models and inflation targeting in emerging market economies

Valpy FitzGerald

Ch 14 International aspects of current monetary policy

L. Randall Wray

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Persistent link: https://EconPapers.repec.org/RePEc:elg:eebook:3536

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