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Will the Euro Bring Economic Crisis to Europe?

Arestis, Philip; Sawyer, Malcolm - 2001

The initial introduction of the euro has, against many expectations, been accompanied by a decline in the value of the … euro (notably vis-à-vis the dollar and sterling). It has also been introduced at a time of high levels of unemployment … the euro, specifically from the policy and institutional arrangements within which the euro is embedded. It is the …

Persistent link: https://www.econbiz.de/10010263262

Credibility of monetary policy in four accession countries: A Markov regime-switching approach

Arestis, Philip; Mouratidis, Kostas - 2003

Persistent link: https://www.econbiz.de/10010266465

US stock market crashes and their aftermath: Implications for monetary policy

Mishkin, Frederic S.; White, Eugene N. - 2002

This paper examines fifteen historical episodes of stock market crashes and their aftermath in the United States over the last one hundred years. Our basic conclusion from studying these episodes is that financial instability is the key problem facing monetary policy makers and not stock market...

Persistent link: https://www.econbiz.de/10010318366

New consensus macroeconomics: a critical appraisal

Arestis, Philip - 2009

This paper is concerned with the New Consensus Macroeconomics (NCM) in the case of an open economy. It outlines and explains briefly the main elements of and way of thinking about the macroeconomy from the standpoint of both its theoretical and its policy dimensions. There are a few problems...

Persistent link: https://www.econbiz.de/10010266458

Inflation targeting in Brazil

Arestis, Philip; de Paula, Luiz Fernando Rodrigues; … - 2008

The purpose of this paper is to examine inflation targeting (IT) in emerging countries by concentrating essentially on the case of Brazil. The IT monetary policy regime has been adopted by a significant number of countries. While the focus of this paper is on Brazil, which began inflation...

Persistent link: https://www.econbiz.de/10010276235

The Bank of England Macroeconomic Model: Its Nature and Implications

Arestis, Philip; Sawyer, Malcolm - In: Journal of Post Keynesian Economics 24 (2002) 4, pp. 529-545

The Bank of England's report on its approach to macroeconomic modeling reveals the underlying structure of their macroeconomic model used for policy purposes. A simplified representation of the Bank of England model is presented, which is less disaggregated than the original model and focuses on...

Persistent link: https://www.econbiz.de/10010640824

Natural equilibrium real interest rate estimates and monetary policy design

Arestis, Philip; Chortareas, Georgios E. - In: Journal of Post Keynesian Economics 29 (2007) 4, pp. 621-643

Practical monetary policy concerns and recent theoretical developments have revived interest in the concept of a "natural" equilibrium real interest rate. The natural real interest rate is potentially an important concept for monetary policy makers and some researchers have suggested that the...

Persistent link: https://www.econbiz.de/10005750072