Macroeconomics, Finance and Money: Essays in Honour of Philip Arestis

Front Matter....Pages i-xx
Front Matter....Pages 1-1
Are the Macro Econometrics Models of the Federal Reserve Board, the Bank of Canada, and the Sveriges Riksbank consistent with the New Consensus Macroeconomics Model?....Pages 3-18
Arestis and Sawyer’s Criticism on the New Consensus Macroeconomics: Some Issues Related to Emerging Countries....Pages 19-34
Inflation Targeting in Canada: Myth versus Reality....Pages 35-53
Monetary Policy Challenges of the ECB Facing a Divergent Inflationary Process in the EMU Area....Pages 54-74
Macroeconomic Consensus and Political Economy Aspects of Monetary Policy Design....Pages 75-90
Central Bank Communication, Transparency and Interest Rate Volatility: Evidence from the USA....Pages 91-108
Front Matter....Pages 109-109
The Thatcher Monetarist Experiment, 1979–85: An Assessment....Pages 111-125
Phillips’ Curve, Independence of Central Banks and Inflation Targeting....Pages 126-138
Monetary Policy Rules and Phillips’ Curve Tradeoffs in a Kaleckian Framework....Pages 139-149
The Banking Crisis, Nationalization of Banking and the Mixed Economy....Pages 150-162
How Does a Capitalist Economy Work in the Real World?....Pages 163-176
Front Matter....Pages 177-177
Bubbles Lead to Long-term Instability....Pages 179-195
The Subprime Crisis: A Minskyan Phenomenon?....Pages 196-208
A Minsky Moment, or Not?....Pages 209-223
Does Financial Liberalization Help the Poor?....Pages 224-236
Finance, Speculation and Stability: Post-Keynesian Policies for Modern Capitalism....Pages 237-249
‘Financialization’, Capital Accumulation and Productivity Growth: a Post-Keynesian Approach....Pages 250-265
Front Matter....Pages 267-267
Instantiating Neo-Liberal Reform via Economic Theory and Small Group Agreements....Pages 269-281
Financial Liberalization, Growth and Financial Crisis....Pages 282-294
Institutions and Finance in Developing Countries: Challenges to Orthodoxy....Pages 295-310
Front Matter....Pages 267-267
Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries?....Pages 311-326
Financial Globalization and Innovation: Lessons of a Lost Decade for the OECD Economies....Pages 327-343
Back Matter....Pages 344-347