Employment, Growth and Development

Edited by Claude Gnos, Senior Research Associate, Centre for Monetary and Financial Studies, University of Burgundy, Dijon, France and the International Economic Policy Institute, Laurentian University, Canada, Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy, Editor-in-Chief, Challenge, Founding Editor Emeritus, Review of Keynesian Economics and Director, Monetary Policy Institute and Domenica Tropeano, Associate Professor of Political Economy, Department of Economics and Law, University of Macerata, Italy

• Contents:Introduction: Post-Keynesian Economic Policy – a Post-crisis ViewClaude Gnos, Louis-Philippe Rochon and Domenica TropeanoPART I: LABOR, EMPLOYMENT POLICIES AND DISTRIBUTION1. Deconstructing Labor: A Marxian–Kaleckian Perspective on What is ‘New’ in Contemporary Capitalism and Economic PoliciesRiccardo Bellofiore and Joseph Halevi2. Breaking the Economic Dependence of Developing Countries to Promote Economic Development and Full Employment: The Case of the Maghreb CountriesMehdi Ben Guirat and Corinne Pastoret3. The Redistribution Conflict in the ‘Patrimonial Regime’ through a Stock–Flow Consistent ModelMickaël Clévenot and Yann Guy4. Income Distribution, Growth and Financialization: The Italian CaseDomenica Tropeano5. Faith-based Macroeconomics: A Critique of Recent Developments in NAIRU EstimationDany Lang and Mark Setterfield6. Still Unemployed, After All These Wage Cuts. Labor in EuropeEngelbert Stockhammer7. Labor Market and Monetary MacroeconomicsVincent VernayPART II: GROWTH, DEVELOPMENT AND EXCHANGE RATES8. Exchange Rate Policy in Developing Countries: The East Asian ExperienceMohamed Aslam9. A Keynesian–Structuralist Growth Strategy for Latin AmericaJulio López and Fernando J. Cardim de Carvalho10. Financial Development and Economic Growth through a Post-Keynesian Lens: Hong Kong Case StudyTaha Chaiechi11. Money and Institutions: The Long Path of the Latin American Financial ReformsEugenia Correa12. The Effect of Interest Rates in Developing Countries: Can Central Bank Monetary Policy Instruments Modify Economic Growth?Noemi Levy Orlik13. International Capital Flows and Latin America: Making Sense of Disappointing ResultsWesley C. Marshall14. Inflation Targeting by the ‘Tyrannical Auctioneer’: The Predominance of a Normative Approach in Monetary PolicyEtelberto Ortiz CruzIndex

’The editors of this volume have brought together an invaluable set of essays on each of these issues. The overall post-Keynesian message, of course - one that comes through very clearly - is that employment, growth and development are not at all separate topics, but each depend on the appropriate choice of macroeconomic policies for a monetary production economy’- John Smithin, York University, Canada