According to the New Consensus in monetary economics, monetarism is dead and central bankers target low inflation rates by acting upon short-term real rates of interest. Yet, this synthesis hinges on variants of the long-run vertical Phillips curve originally proposed by Milton Friedman, the...

The history of the Bank of Canada and the U.S. Federal Reserve System is intertwined not only because of geographical proximity but because of the reciprocal influence on the way they have evolved their structures to conduct monetary policy. While both find their origins in financial crises, the...

There has been a substantial amount of convergence between post-Keynesian and Marxist economics, the writings of Kalecki being common ground for both traditions. Still, some differences remain. While authors in both traditions seem to agree to a large extent on short-period issues, long-period...

In May 2011, the editors of Intervention: European Journal of Economics and Economic Policies, which is now named the European Journal of Economics and Economic Policies: Intervention (EJEEP), decided to put together a special issue on post-Keynesian and Institutional Economics.

Divided into two parts, this book presents a detailed, multi-faceted analysis of banking and monetary policy. The first part examines the role of central banks within an endogenous money framework. These chapters address post-Keynesian interest rate policy, monetary mercantilism, financial...

Hyman Minsky is renowned for his theoretical and empirical investigation of the capitalist economy. In this book, a distinguished group of contributors provides an authoritative account of his contribution to the analysis of capitalism and, more particularly, to the fields of monetary and post...