Towards the next revolution in central banking : a radical framework for monetary policy / Burkhard Wehner.

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Towards the next revolution in central banking : a radical framework for monetary policy / Burkhard Wehner.

Neue Logik der Geldpolitik. English

9783030857660 (electronic bk.)
3030857662 (electronic bk.)
9783030857653
3030857654

Cham : Palgrave Macmillan, [2021]

©2021

English

Translated from German.

1 online resource : illustrations.

10.1007/978-3-030-85766-0 doi

HG1811 .W4513 2021

332.11

This book critically explores past and present principles of central banking, and outlines a new framework for future stabilization policy. Through compact and concise chapters, it demonstrates why a constant long-term interest rate would be the most beneficial target for monetary policy to follow. A novel set of policy tools and institutional arrangements suitable to reliably meet this target are developed. It is argued that the proposed framework would be clearly superior to conventional policies in preventing financial market crises, maintaining high employment, and keeping the economy at or near potential. The merits and shortcomings of alternative theories such as Modern Monetary Theory are also discussed. This book will be relevant to researchers and policymakers as well as professional investors, analysts, and commentators of financial markets and the economy at large. Burkhard Wehner is an independent scholar and theorist in economics and political science. He has developed alternative theories and concepts of democracy, social and monetary policy, and the labor market.

Includes bibliographical references.

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Online resource; title from PDF title page (SpringerLink, viewed November 3, 2021).

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