Financial regulation is normally imposed in reaction to some prior crisis, rather than founded on theoretical principle. In the past, regulation has been deployed to improve risk management practices in individual banks. This was misguided. Instead, regulation should focus first on systemic...

Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels. It goes on to illustrate that the explicit control of...

The 2007–08 financial crisis has posed substantial challenges for bankers, economists and regulators: was it preventable, and how can such crises be avoided in future? This book addresses these questions. The Financial Crisis and the Regulation of Finance includes a comprehensive overview...

During a distinguished career, Basil Moore has made numerous important contributions to macroeconomics and monetary economics, and is renowned as the progenitor of the ‘horizontalist’ analysis of endogenous money. More recently, he has embraced complexity theory as part of an...

Financial globalization has made monetary policy formulation in emerging market economies increasingly complicated. This timely set of studies looks at the turmoil in global financial markets, which coupled with volatile inflation poses serious challenges for central banks in these countries....

Almost all economists know the story about the (drunk) person searching for his lost wallet in the night under the lamp-post, not because that was the most likely place to have dropped his wallet, but because that was where the light was. I shall argue here that this story is fitting in the case...

The Economics of Seasonal Cycles by Jeffrey A. Miron. Pp. xviii+225. Cambridge, Massachusetts: MIT Press, 1996. ($US30.00 cloth) WEB INFORMATION: http://mitpress.mit.edu/book-home.tcl?isbn=O262133237.