This book critically explores past and present principles of central banking, and outlines a new framework for future stabilization policy. Through compact and concise chapters, it demonstrates why a constant long-term interest rate would be the most beneficial target for monetary policy to...

Eine kurze Geschichte der Geldpolitik -- Die Institutionen der Geldpolitik -- Der geldpolitische Auftrag – multiple Ziele oder klarer Fokus? -- Fokussierte Politik mit herkömmlichen Mitteln -- Ein Alternativmodell: die Stabilisierung des langfristigen Zinses -- Welcher Zins ist fest im...

1:-On the History of Monetary Policy -- 2.:-An Alternative Model: Stabilizing the Long-Term Interest Rate -- 3:-New Instruments for Monetary Policy -- 4:-Paths to the Fixed-Rate Model – How, Where, and When? -- 5:-Some Supplements -- 6:-On the Governance Structure of Fully Independent Central...

Post-apartheid South Africa is facing three major economic problems: (1) slack economic growth, (2) high and growing unemployment and (3) among the world's highest income inequality and poverty indices. South Africa is currently caught in a macro-economic straight-jacket of tight monetary,...

Post Keynesian theory as opposed to Walrasian theory does not provide the foundations for a unique general equilibrium but claims the existence of multiple equilibrium positions. In this article, such a multiple of equilibrium positions is explained by different market constellations which are...