Money, Financial Instability and Stabilization Policy

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L. Randall Wray, Mathew Forstater
Edward Elgar Publishing, Jan 1, 2006 - Business & Economics - 288 pages
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Money, Financial Instability and Stabilization Policy consists of original articles by leading Post Keynesians, Kaleckians and other heterodox economists from the developed and developing world. Post Keynesian literature has long been associated with the study of money, financial markets and financial instability. Indeed, this is perhaps the area to which Post Keynesians have made the greatest contributions. The authors to this volume present an overview of the latest research on monetary theory and policy, financial markets, and financial instability coming out of the Post Keynesian school of thought. They provide an indication of the wide-ranging interests and of the truly international scope of Post Keynesian research. The first half of the volume is theoretical, while the second half includes papers that are either empirical or more focused on specific concerns. This book will find an appreciative audience in economists generally as well as Post Keynesian, other heterodox economists and macroeconomists specifically.
  

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Contents

1 Negative net resource transfers as a Minskyian hedge profile and the stability of the international financial system
11
2 Monetary and social relationships
22
3 System dynamics of interest rate effects on aggregate demand
37
4 Credibility versus confidence in monetary policy
58
towards a synthesis between Post Keynesian and Institutional Economics
85
6 Saving assetprice inflation and debtinduced deflation
104
a Post Keynesian interpretation
125
the Mexican case
141
9 The Washington Consensus and nondevelopment
171
10 Competition low profit margin low inflation and economic stagnation
192
11 Foundering after floating? Exchange rate management and the Mexican stock market 19952001
208
the development of the new member states of the European Union
231
Index
257
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