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The future of the euro: Is there an alternative to the stability and growth pact?

Arestis, Philip; McCauley, Kevin; Sawyer, Malcolm - 2001

states of the European Union that has far-reaching implications for the long-run value of the euro, and therefore, on the …

Persistent link: https://www.econbiz.de/10010280300

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

Can monetary policy affect the real economy? The dubious effectiveness of interest rate policy

Arestis, Philip; Sawyer, Malcolm - 2003

Central bankers and many economists have abandoned activist policies and monetarism and adopted in their place a new view of the role of monetary policy. This view draws on many of the tenets of more traditional theories of money - monetarism's emphasis on inflation control and skepticism about...

Persistent link: https://www.econbiz.de/10010280296

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

New Monetary Policy and Keynes

Arestis, Philip - In: Intervention. Zeitschrift fuer Ökonomie / Journal of … 03 (2006) 2, pp. 245-262

The purpose of this paper is to compare new developments on the monetary policy front, or what is known as inflation targeting, with some of Keynes's ideas as propounded in a pamphlet in 1932. A number of the ingredients of the new monetary policy approach can be found in Keynes, especially that...

Persistent link: https://www.econbiz.de/10014362986