A Theoretical Framework -- Specifications and Assumptions -- Underlying Equilibrium Growth Paths -- Variations in Employment -- Some Important Implications -- Exchange Rate Overshooting -- Exchange Rate Determination -- Issues Regarding Exchange Rate Determination -- Time Series Properties of...

This volume presents a critical examination of the EMU from different perspectives. It includes essays on the political economy of currency unions, on the Growth and Stability pact, the European Central Bank, an evaluation of the first four years of the EMU, and the costs and benefits for Sweden...

Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...

This paper is concerned with ex ante and ex post counterfactual analyses in the case of macroeconometric applications where a single unit is observed before and after a given policy intervention. It distinguishes between cases where the policy change affects the model's parameters and where it...

For more than two decades now, current-account imbalances are a crucial issue in the international policy debate as they threaten the stability of the world economy. More recently, the government debt crisis of the European Union shows that internal current account imbalances inside a currency...

This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high...

This book is a practical guide to the evolving landscape of finance, highlighting how it’s changing our relationship with money and how financial technology, together with macroeconomic and societal change, is rewriting the story of how business is done in developing economies. Financial...

This valuable book provides a much-needed integration of fundamental analysis of global forces and technical analysis to provide highly probable trades in currency markets. Fundamental analysis is often too vague and not quantified. This book provides insights into fundamental analysis and then...

This book presents a new, inter-disciplinary framework of financial instability that builds on the Post-Keynesian model of financial crises in the tradition of Hyman Minsky and Charles Kindleberger. It reincorporates John Maynard Keynes’ insights on economic conventions to explain how market...

This book examines the linkage between central bank structure, central bank autonomy-with respect to setting its monetary policy goals, choosing its policy mechanisms, legal independence, and financial independence-and monetary policy, both in select benchmark countries and at a broader...