The current financial crisis has called the role of the monetary policy into question and has also re-opened the debates about a new regulation and the need of prudential controls of banking activity. This paper argues that the origins of the current crisis can be found in two interrelated...

This contribution focuses on a coherent new way of thinking about the macroeconomy in terms of both economic theory and economic policies. The central bank should focus on financial stability; for fiscal policy in the short term and in the long term to address demand issues is very important....

This contribution focuses on a coherent new way of thinking about the macroeconomy in terms of both economic theory and economic policies. The central bank should focus on financial stability; for fiscal policy in the short term and in the long term to address demand issues is very important....

This paper argues that the inception of the euro itself, with its restrictive monetarist institutional structures, to an area which is in a divergent state, which has recently been widened by a process of divergence, is ample reason for long term investors, and, indeed, post-"euphoric", short...

Assessing the inflation targeting regime in Brazil- This paper is concerned with ?new? monetary policy, essentially what has come to be known as inflation targeting (IT). While the paper aims to examine this policy in the case of emerging countries, the focus is on Brazil and the application of...

Recent developments in macroeconomic policy, both in terms of theory and practice, have elevated monetary policy while fiscal policy has been downgraded. The latter is rarely mentioned in policy discussion, apart from arguing to place limits on budget deficits and fiscal variables. This paper...

This paper argues that the inception of the euro itself, with its restrictive monetarist institutional structures, to an area which is in a divergent state, which has recently been widened by a process of divergence, is ample reason for long term investors, and, indeed, post-"euphoric", short...

The current financial crisis has called the role of the monetary policy into question and has also re-opened the debates about a new regulation and the need of prudential controls of banking activity. This paper argues that the origins of the current crisis can be found in two interrelated...

The stringent deficit criterion followed by the EMU is motivated by the belief that a sustainable fiscal arrangement is a must for a viable monetary union. In this paper we provide an empirical analysis of the issue of deficit convergence in the Euro area and compare and contrast the Euro-zone...