PHILIP ARESTIS is University Director of Research, Cambridge Centre for Economic and Public Policy, University of Cambridge, Senior Research Fellow, Wolfson College Cambridge, UK, and Professor of Economics at the Levy Economics Institute, New York City, USA. His research interests are in the areas of macroeconomics, monetary economics, applied econometrics, political economy and applied political economy. He has published a number of books and has contributed in the form of invited chapters to books, having published widely in academic journals.

• Introduction; P.Arestis & A.Ross What is the New Consensus in Macroeconomics? P.Arestis Are there Dangers in the Microfoundations Consensus?; S.Wren-Lewis The Future of Central Banking; C.Goodhart The Foundations of Monetary Policy in the New Consensus Framework: A Partial Critique; M.Sawyer The New Consensus in Monetary Policy: Is the NKM Fit for the Purpose of Inflation Targeting?; M.Wickens & P.Smith New Consensus and Monetary Policy Delegation; G.Chortareas The New Consensus and the UK Macroeconomic Policy Framework; A.Gurney Is there a New Consensus in Monetary Policy?; C.Bean On Two Aspects of the Fed's Monetary Policy; W.Poole The Performance of the ECB; M.Artis