Print page

Modern Monetary Macroeconomics

A New Paradigm for Economic Policy Edited by Claude Gnos, Senior Research Associate, Centre for Monetary and Financial Studies, University of Burgundy, Dijon, France and the International Economic Policy Institute, Laurentian University, Canada and Sergio Rossi, Full Professor of Economics, University of Fribourg, Switzerland
This timely book uses cutting-edge research to analyse the fundamental causes of economic and financial crises, and illustrates the macroeconomic foundations required for future economic policymaking in order to avoid these crises.
Extent: 320 pp
Hardback Price: £91.00 Web: £81.90
Publication Date: 2012
ISBN: 978 1 84720 035 8
Availability: In Stock
£0.00

Buy the E-Book @ paperback price

Join our mailing list

  • Economics and Finance
  • Financial Economics and Regulation
  • Post-Keynesian Economics
This timely book uses cutting-edge research to analyse the fundamental causes of economic and financial crises, and illustrates the macroeconomic foundations required for future economic policymaking in order to avoid these crises.

The expert contributors take a critical approach to monetary analysis, providing elements for a new paradigm of economic policymaking at both national and international levels. Major issues are explored, including: inflation, capital accumulation and involuntary unemployment, sovereign debts and interest payment, and the euro-area crisis.

Opening new lines of research in the economic and financial crises, this book will prove a fascinating read for academics, students and researchers in the field of monetary economics. Monetary policymakers, central bank officials and international financial organisations will also find the book to be an invaluable resource.
Contributors: J.-L. Bailly, X. Bradley, A. Cencini, M. Citraro, C. Gnos, P. Piégay, S. Rossi, B. Schmitt
Contents:

Introduction
Claude Gnos and Sergio Rossi

PART I: A NEW ANALYTICAL APPROACH
1. Relative Prices are Undermined by a Mathematical Error
Bernard Schmitt

2. Towards a Macroeconomic Approach to Macroeconomics
Alvaro Cencini

PART II: DOMESTIC ISSUES AND ECONOMIC POLICIES
3. Money, Effective Demand, and Profits
Bernard Schmitt

4. Labour, Wages, and Non-wage Incomes
Jean-Luc Bailly

5. Inflation and the Circuit of Income
Xavier Bradley and Pierre Piégay

6. The Unemployment Issue
Claude Gnos

7. Is There a Common Cause to Economic and Financial Crises?
Alvaro Cencini

PART III: INTERNATIONAL ISSUES AND ECONOMIC POLICIES
8. The Monetary–Structural Origin of TARGET2 Imbalances Across Euroland
Sergio Rossi

9. Sovereign Debt and Interest Payments
Bernard Schmitt

10. World Monetary Disorders: The Mystery of the ‘Missing Surplus’ and of the ‘Missing Capital Outflow’
Alvaro Cencini and Mauro Citraro

Index