Central Bank, Trade Unions, and Reputation – Is there Room for an Expansionist Manoeuvre in the European Union?
Toralf Pusch, A. Heise
A. Heise (ed.), Market Constellation Research: A Modern Governance Approach to Macroeconomic Policy. Institutionelle und Sozial-Ökonomie, Bd. 19,
2011
Abstract
The objective of this reader is manifold: On the one hand, it intends to establish a new perspective at the policy level named 'market constellations': institutionally embedded systems of macroeconomic governance which are able to explain differences in growth and employment developments. At the polity level, the question raised is whether or not market constellations can be governed and, thus, whether institutions can be created which will provide the incentives necessary for favourable market constellations.
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On the Institutional Safeguarding of Monetary Policy – a Post-Keynesian Perspective
A. Heise, Toralf Pusch
International Journal of Public Policy,
No. 1,
2011
Abstract
The paper takes a fresh look at the governance of the most important macroeconomic objectives: price stability and full employment. On the basis of a post-Keynesian market constellations approach, the necessity and institutional requirements of the coordination of macroeconomic policy areas in general and an optimal central bank setting in particular are analysed, and an amelioration of monetary policy of the neo-Keynesian ‘new macroeconomic consensus’ is provided.
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