This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as...

This book provides a description of the main macroeconomic models used by the European Central Bank and the euro area national central banks (Eurosystem). These models are used to help prepare economic projections and scenario analysis for individual countries and the euro area as a whole

Money, distribution and economic policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics...

1. Opening remarks -- 2. Fiscal policies and sustainability of public finances in the European Union -- 3. Fiscal policy challenges, sustainability of public finances and EU accession : the case of Turkey -- 4. Monetary policy in the Euro area : lessons from five years of the ECB and then...

With recent turmoil in financial markets around the world, this unique and up-to-date book addresses a number of challenging issues regarding monetary policy, financial markets and macroeconomic policy. While some of the chapters address the recent crisis as well as adjustments to the Basel...

In the long aftermath of the acute global financial crisis of 2008/09, the need to get economies back on track and to handle high levels of public and private debt has created conflicting objectives. Challenges yet to be mastered are the need to avoid counterproductive measures of adjustment and...

The recent global financial crisis has challenged conventional wisdom, and our conception of globalisation has been called into question. This challenging and timely book revisits the relationship between globalisation, the crisis and the state from an interdisciplinary perspective, with law,...

This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the "new consensus" in macroeconomics along with the monetary...

pt. 1. The stability merits of the euro -- pt. 2. A case for rapid euro adoption? -- pt. 3. The euro area- a shelter? Euro assets- a safe haven? -- pt. 4. Lessons- from euro area divergences, and from the crisis -- pt. 5. Post-crisis business models of banks in CEE

Contents: Foreword / Geoff Harcourt -- Introduction: The role of government / Nikolaos Karagiannis and John E. King -- Part I: Philosophical and theoretical aspects -- 1. Policy and state in complexity economics / Wolfram Elsner -- 2. State and public sector: key economic and...