The general ineffectiveness of monetary policy or the weaponization of inflation

Louis-Philippe Rochon

Chapter 1 in The Future of Central Banking, 2022, pp 20-36 from Edward Elgar Publishing

Abstract: Monetary policy has been over-relied upon in the recent past to deliver on output and price stability. The era of austerity saw the rise of monetary policy dominance, and though this has waned a bit since both the financial crisis and COVID-19, the general framework upon which the monetary policy apparatus is built remains the same. In this chapter, I deconstruct this model in fie arguments, and propose an alternative theory of the transmission of monetary policy, through income distribution.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2022
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