First paragraph: During the recent decades the financial sectors of developed and developing countries as well as global financial relations have changed remarkably. The overall importance of financial factors for real investment and growth of non-financial business has risen, as has the...

Books reviewed: G.C. Harcourt, Prue Kerr (2009): Joan Robinson, Basingstoke Tracy Mott (2010): Kalecki's Principle of Increasing Risk and Keynesian Economics, New York David Colander (ed.) (2006): Post Walrasian Macroeconomics. Beyond the Dynamic Stochastic General Equilibrium Model, Cambridge...

In a Post-Keynesian (PK) model we show that inflation targeting monetary policies, as the main stabilisation tool proposed by the New Consensus Model (NCM), in the short run are only adequate for certain values of the model parameters, but are either unnecessary, counterproductive, or limited in...