BOOK REVIEW: MODERN MONETARY MACROECONOMICS: A NEW PARADIGM FOR ECONOMIC POLICY

Title:             MODERN MONETARY MACROECONOMICS: A NEW PARADIGM FOR ECONOMIC POLICY (NEW DIRECTIONS IN MODERN ECONOMICS)

Authors:               Claude Gnos and Sergio Rossi

ISBN:                    847200354   EAN: 9781847200358

Publisher:            Edward Elgar Publishing

Price:                    N36, 500.00

Binding:               Hardcover

Pub Date:             January 30, 2013

Copyright Date:   2012

Subject Area:       Business & Economics | Economics | Macroeconomics

Physical Info:       328 pages

Store:                    To obtain a copy, CLICK HERE, call 07089024098 or mail qriocity@live.com

BRIEF DESCRIPTION

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 crises.

Opening new lines of research in the economic and financial crises, this book will prove a fascinating read for academics, students, professionals and researchers in the field of economics. Monetary policymakers, central bank officials and international financial organizations will also find this book to be an invaluable resource.

Claude Gnos is a Senior Research Associate in the center for monetary and financial studies at the University of Burgundry, Dijon, France and in the International Economic Policy Institute at Laurentian University, Canada.

Sergio Rossi is a Full Professor of Economics at the University of Fribourg, Switzerland.

CONTENTS

Introduction - 1

Claude Gnos and Sergio Rossi

PART 1: A NEW ANALYTICAL APPROACH

11.     19 - Relative prices are undermined are undermined by a mathematical error

Bernard Schmitt

22.      39 - Towards a macroeconomic approach to macroeconomics - 

Alvaro Cencini

PART 2: DOMESTIC ISSUES AND ECONOMIC POLICIES

33.       71 - Money, effective demand, and profits

Bernard Schmitt

44.      100 - Labour, wages and non-wage incomes

Jean-Luc Bailly

55.     134 -  Inflation and the circuit of income

Xavier Bradley and Pierre Piegay

66.      166 - The unemployment issue 

Claude Gnos

77.     193 -  Is there a common sense to economic and financial crises? 

Alvaro Cencini

PART 3: INTERNATIONAL ISSUES AND ECONOMIC POLICES

88.      231 - The monetary-structural origin of TARGET2 imbalances across Euroland

Sergio Rossi

99.      239 - Sovereign debt and interest payments

Bernard Schmitt

110.   261 - World monetary disorders: the “mystery of the missing surplus”

and of the “missing capital outflow”    

Alvaro Cincini and Mauro Citraro