Money and Macroeconomic Policy

Edited by the late Sami Daniel, formerly Associate Dean, Faculty of Human Sciences, Kingston University, UK, Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK and John Grahl, Professor of European Integration, Middlesex University Business School, UK

• Contents: Introduction Part I: The Trend of Macroeconomic Policy 1. Notes on Inflation Targeting 2. Kalecki’s ‘Political Aspects of Full Employment’ Revisited 3. Post Keynesian Economic Policy Part II: The Independent Central Bank 4. The Privatization of Monetary Policy 5. Emergency Changes in Monetary Policy 6. Central Bank Independence Has Costs, Not Just Benefits 7. What are the Central Bank’s and the Private Sector’s Objectives? Part III: Emerging Problems in Macroeconomic Policy 8. The Economics and Politics of European Monetary Union 9. Convergence in European Bond Markets 10. Severe Fiscal Contradictions and Expansions Part IV: Macroeconomic Policy Beyond the OECD 11. Non-linear Hyperinflationary Exchange Rate Dynamics 12. Islands of Tranquillity in a Turbulent World? Index