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This ground-breaking book analyses the severe monetary policy challenges facing Latin American countries. Contributors reflect on how these issues should be addressed by policy-makers, identifying the need for a synergic response from regional central banks.
This timely book presents a nuanced investigation into the idiosyncrasies of the supermultiplier model, examining its application to residential investment, exports and fiscal policy. It offers an accessible introduction to this growth model, hypothesizing that it is one of the cornerstones of modern macroeconomics.
COVID-19 and the Response of Central Banks analyses the reactions of central banks to the COVID-19 crisis in Sub-Saharan Africa. It focuses on how the pandemic has affected the economic performance of Sub-Saharan African countries, many of which were already struggling with growth and sustainability. The first part of the book covers countries within monetary unions such as Cameroon, Congo, Senegal, and Cote d'Ivoire. In the second half, countries with their own independent central banks, The Democratic Republic of Congo, Nigeria, Ghana, and Sierra Leone, are discussed. Chapters highlights the differences between Monetary Union membership and independent Central Banks in policymaking during health crises and explore the role of central banking in minimizing the deleterious effects.
Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and income distribution. The usual central bank mandate – that of exclusively fighting inflation – is being increasingly questioned by policymakers and academics. Many countries are finding that there is a need for broader mandates that will have an impact on economic activity, unemployment and other economic issues.
This book focuses on the recent trends of monetary policy in Latin America. It analyzes how the actions of central banks and the monetary regimes of some Latin American countries have affected the economic performance of these countries, mainly in response to the international financial crisis (IFC) and COVID-19 crisis.
Presenting an in-depth overview of the foundations and developments of post-Keynesian macroeconomics since Kalecki and Keynes, this timely book develops a comprehensive post-Keynesian macroeconomic model with the respective macroeconomic policy mix for achieving non-inflationary full employment. Linking the short-run model to long-run distribution and growth theories, the theoretical approach is also applied to current research on macroeconomic regimes in finance-dominated capitalism and on the macroeconomic challenges of the socio-ecological transformation.
Over the past twenty years there has emerged a compelling new discourse on varieties of capitalism. That discourse has an appealing common sense which challenges the view there is no alternative to free market capitalism. The initial view had a microeconomic focus that made firms the fulcrum of analysis. It distinguished between liberal market and coordinated market economies. Subsequently, there has emerged a second-generation literature which adopts a macroeconomic perspective that emphasizes differences in drivers of growth. This book provides a collection of essays that engage those second-generation concerns and questions.
This insightful book discusses the behavioral microfoundations of Keynes’ macroeconomic revolution derived from ‘casual’ observations but impressively substantiated by rigorous research in Behavioral Economics and neurology. Ronald Schettkat argues that Keynes’ macroeconomic insights are based on microeconomic fundamentals of the behavior of humans and markets in the monetary economy we live in.
In this book of carefully selected essays, Charles Whalen presents constructive analyses of vital economic problems confronting the United States since the 1970s, giving special attention to challenges facing working families. The analyses are grounded in Whalen’s career of more than three decades, during which he has gleaned insight from institutional and post-Keynesian economics and contributed to national economic policy-making, equitable regional development, and worker engagement in business decisions. The result is a compelling case for reforming capitalism by addressing workers’ interests as an integral part of the common good, and for reconstructing economics in the direction of post-Keynesian institutionalism.
Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large. It focuses on the specific relationship between central banking, monetary policy and social responsibility as central banks wake up to new realities
