Part 1. Monetary Policy, Central Banks and the ‘New Consensus in Macroeconomics’
1. Are the Macro Econometrics Models of the Federal Reserve Board, the Bank of Canada, and the Sveriges Riksbank consistent with the New Consensus Macroeconomics Model?
Jérôme Creel, Giuseppe Fontana
2. Arestis and Sawyer’s Criticism on the New Consensus Macroeconomics: Some Issues Related to Emerging Countries
Luiz Fernando de Paula, Fernando Ferrari-Filho
3. Inflation Targeting in Canada: Myth versus Reality
Mario Seccareccia, Marc Lavoie
4. Monetary Policy Challenges of the ECB Facing a Divergent Inflationary Process in the EMU Area
Georg Erber, Harald Hagemann
5. Macroeconomic Consensus and Political Economy Aspects of Monetary Policy Design
6. Central Bank Communication, Transparency and Interest Rate Volatility: Evidence from the USA
Iris Biefang-Frisancho Mariscal, Peter Howells
Part 2. Inflation and Economic Policy
7. The Thatcher Monetarist Experiment, 1979–85: An Assessment
8. Phillips’ Curve, Independence of Central Banks and Inflation Targeting
9. Monetary Policy Rules and Phillips’ Curve Tradeoffs in a Kaleckian Framework
10. The Banking Crisis, Nationalization of Banking and the Mixed Economy
11. How Does a Capitalist Economy Work in the Real World?
Part 3. Finance, Crisis and Bubbles
12. Bubbles Lead to Long-term Instability
13. The Subprime Crisis: A Minskyan Phenomenon?
Elisabetta De Antoni
14. A Minsky Moment, or Not?
Korkut Ertürk, Gökcer Özgür
15. Does Financial Liberalization Help the Poor?
16. Finance, Speculation and Stability: Post-Keynesian Policies for Modern Capitalism
17. ‘Financialization’, Capital Accumulation and Productivity Growth: a Post-Keynesian Approach
Part 4. Financial Markets and Governance in Developing Economies
18. Instantiating Neo-Liberal Reform via Economic Theory and Small Group Agreements
19. Financial Liberalization, Growth and Financial Crisis
Marisol Esteban, Jesús Ferreiro, Felipe Serrano
20. Institutions and Finance in Developing Countries: Challenges to Orthodoxy
21. Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries?
22. Financial Globalization and Innovation: Lessons of a Lost Decade for the OECD Economies