CURRENT MACROECONOMICS AND MACROECONOMIC POLICY
Professor Philip Arestis
University of Cambridge, UK
Plano do Curso
Horário
Atividade
Aula 1 - Emergence of New Consensus
Macroeconomics
Dia 18/08
10:00-12:00
12:00
Dia 21/08
10:00-12:00
12:00
Aula 2 – New Consensus Macroeconomics
10:00-12:00
12:00
Aula 3 - Assessing the New Consensus
Macroeconomics
Dia 25/08
9:00-11:00
11:00
Aula 4 - Implementing the Specific Policy
Implications of New Consensus Macroeconomics:
the UK Case
11:00-13:00
13:00
Aula 5 Implementing the Specific Policy
Implications of New Consensus Macroeconomics:
the EMU Case
9:00-11:00
11:00
Aula 6 - Origins of the Current Crisis and Economic
Policy of the New Consensus Macroeconomics
11:00-13:00
13:00
Aula 7 - Economic Policy Implications in view of the
Current Crisis
Dia 28/08
Dia 01/09
Dia 04/09
10:00-12:00
12:00
Aula 8 - Future Economic Policies in view of the
Current Crisis
•
Obs
•
No dia 03/09, às 14h,, o Prof. Arestis irá
ir
proferir palestra aberta ao público
pú
acadêmico em geral, dentro do programa
de Seminários Permanentes do Instituto
de Economia da Unicamp
Estão previstos dois períodos para
atendimento individual a professores e
grupos de pesquisa da pós-graduação
pós
Bibliografia
LECTURE 1:: Emergence of New Consensus Macroeconomics
READING:
Arestis, P. (1992), The Post-Keynesian
Post Keynesian Approach to Economics: An Alternative Analysis
of Economic Theory and Policy, Edward Elgar Publishing Limited.
Carlin, W. and Soskice, D. (2006), Macroeconomics: Imperfections, Institutions and
Policies,, Oxford University Press
LECTURE 2:: New Consensus Macroeconomics
READING:
Arestis, P. (2007), Is There a New Consensus in Macroeconomics?,
Macroeconomics? Palgrave
Macmillan.
Angeriz, A. and Arestis, P. (2009), “The
The Consensus View on Interest Rates and Inflation:
In
Reality or Innocent Fraud?”, Journal of Post Keynesian Economics,, Vol. 31, No. 4,
(Summer)
Bernanke, B., Laubach, T., Mishkin, F. and Posen, A. (1999), Inflation Targeting. Lessons
from the International Experience,
Experience Princeton University Press
Carlin,
rlin, W. and Soskice, D. (2005), “The 3-Equation
3 Equation New Keynesian Model – A
Graphical Exposition”, Contributions to Macroeconomics,
Macroeconomics, Vol. 5, No. 1, Article 13
Carlin, W. and Soskice, D. (2009), “A
“A New Keynesian Open Economy Model for Policy
Analysis”, Mimeo
Galí, J. (2008), Monetary Policy, Inflation, and the Business Cycle: An Introduction to
the New Keynesian Framework,
Framework Princeton University Press
Goodfriend, M. (2002), “Monetary Policy in the New Neoclassical Synthesis: A Primer”,
International Finance, Vol.
l. 5, No. 2, (Summer)
Woodford, M. (2003), Interest and Prices: Foundations of a Theory of Monetary Policy,
Princeton University Press
LECTURE 3:: Assessing the New Consensus Macroeconomics
READING:
Angeriz, A. and Arestis, P. (2006), “Has Inflation Targeting
Targeting Had Any Impact on
Inflation?”, Journal of Post Keynesian Economics,
Economics, Vol. 28, No. 4, (Summer)
Angeriz, A. and Arestis, P. (2007), “Assessing
Assessing the Performance of ‘Inflation Targeting
Lite’ Countries”, The World Economy,
Economy Vol. 30, No. 11, (November)
Angeriz, A. and Arestis, P. (2008), “Assessing Inflation Targeting Through Intervention
Analysis”, Oxford Economic Papers,
Papers Vol. 60, No. 2, (April)
Arestis, P. (2009), “New Consensus Macroeconomics and Keynesian Critique”, in E.
Hein, T. Niechoj and E. Stockhammer
Sto
(eds.), Macroeconomic Policies on Shaky
Foundations: Wither Mainstream Macroeconomics?,
Macroeconomics? Metropolis
Arestis, P. (2009), “The New Consensus in Macroeconomics: A Critical Appraisal”, in
G. Fontana and M. Setterfield (eds.), Macroeconomic Theory and Macroeconomic
Pedagogy,, Palgrave Macmillan
Ball, L. and Sheridan, N. (2003), “Does Inflation Targeting Matter?”, NBER Working
Paper Series,, No. 9577, National Bureau of Economic Research: Cambridge, MA.
Casares, M. and McCallum, B. T. (2006), “An Optimizing
Optimiz
IS-LM
LM Framework with
Endogenous Investment”, Journal of Macroeconomics,
Macroeconomics, Vol. 28, No. 4, (December)
Orphanides, A. (2003), “The Quest for Prosperity without Inflation", Journal of
Monetary Economics, Vol. 50 (April).
LECTURE 4:: Implementing the Specific Policy Implications of New Consensus
Macroeconomics: the UK Case
READING:
Allsopp, C., Kara, A. and Nelson, E. (2006), “United Kingdom Inflation Targeting and
the Exchange Rate”, Economic Journal,
Journal Vol. 116, No. 512
Cobham, D. (2006), “The Overvaluation of Sterling Since 1996: How the Policy
Makers Responded and Why”, Economic Journal, Vol. 116, No. 512
Angeriz, A. and Arestis, P. (2007), “Monetary Policy in the UK”, Cambridge Journal of
Economics, Vol. 31, No. 6, (November)
(N
LECTURE 5:: Implementing the Specific Policy Implications of New Consensus
Macroeconomics: the EMU Case
READING:
Arestis, P. Brown, A. and Sawyer, M. (2001), The Euro: Evolution and Prospects,
Prospects
Edward Elgar Publishing Limited
Arestis, P., Ferrari,
i, F. and de Paula, L.F. (2003), Monetary Union in South America:
Lessons from EMU,, Edward Elgar Publishing Limited
Arestis, P. and Sawyer, M. (2006), Alternative Perspectives on Economic Policies in the
European Union, Palgrave Macmillan
Baker, D. Glyn, A., Howell, D and J. Schmitt (2005), "Labor Market Institutions and
Unemployment: A Critical Assessment of the Cross-Country
Cross Country Evidence", Chapter 3 in
David R. Howell (ed.), Fighting Unemployment: The Limits of Free Market Orthodoxy,
Orthodoxy
Oxford University Press
De Grauwe, P. and Costa Storti, C. (2008), “Monetary Policy and the Real Economy”,
in R. Schettkat and J. Langkau (eds.), Economic Policy Proposals for Germany and
Europe,, Routledge Publishers
De Grauwe, P. and Costa Storti, C. (2005), “Is Monetary Policy in the Euro Zone Less
Effective than in the US?”, CESifo Working Paper No. 1606,, November.
Issing, O. (2003), “Evaluation of the ECB’s Monetary Policy Strategy”, ECB Press
Conference and Press Seminar,
Seminar 8 May, Frankfurt: Germany
LECTURE 6: Origins of the Current Crisis and Economic Policy of the New Consensus
Macroeconomics
READING:
Arestis, P., Mooslechner, P. and Wagner, K. (2010), “Introduction: Housing Market
Challenges in Europe and the United States”, in P. Arestis, P. Mooslechner and K.
Wagner (eds.), Housing Market Challenges in Europe and the United States,
States Palgrave
Macmillan.
Arestis, P. and Karakitsos, E. (2010), “Subprime Mortgage Market and Current
Financial Crisis”, in P. Arestis, P. Mooslechner and K. Wagner (eds.), Housing Market
Challenges
hallenges in Europe and the United States,
States Palgrave Macmillan
Bernanke, B. (2005), “The Global Saving Glutand the U.S. Current Account Deficit”,
The Sandridge Lecture, Virginia Association of Economics, Richmond, Virginia.
Lecture available at:
http://www.federalreserve.gov/boarddocs/speeches/2005/200503102/default.htm
Calomiiris, C.W. (2008), “The Subprime Turmoil: What’s Old, What’s New, and What’s
Next”, presented
resented at the Federal Reserve Bank of Kansas City Symposium, 21 August,
Jackson
Hole,
Wyoming.
Available
at:
http://www.lcc.frb.org/publicat/sympos/2008/calomiris.10.02.08.p
http://www.lcc.frb.org/publicat/sympos/2008/calomiris.10.02.08.pdf
Greenspan,
A.
(2010),
“The
Crisis”.
Available
at:
http://www.brookings.edu/~/media/Files/Programs/ES/BPEA/2010_spring_bpea_paper
s/spring2010_greenspan.pdf
ing2010_greenspan.pdf
LECTURE 7: Economic Policy Implications in view of the Current Crisis
READING:
Claessens, S., Dell’Ariccia, G. Igan, D. and Laeven, L. (2010), “Lessons and Policy
Implications from the Global Financial Crisis”, IMF Working Paper WP/10/44,
WP
February, Washington D.C.: International Monetary Fund, Research Department.
ECB (2010), “The ECB’s Monetary Policy Stance During the Financial Crisis”, ECB
Monhly Bulletin,, (January)
Goodhart, C.A.E. (2009), The Regulatory Response to the Financial Crisis,
Cheltenham: Edward Elgar Publishing Limited
Mizen, P. (2008), “The Credit Crunch of 2007-2008.
2007 2008. A Discussion of the Background,
Market reflections and Policy responses”, Federal Reserve of St. Louis Review,
Review
September/October,
tember/October, 90(5), 531-567
531
Borio, C. and Disyatat, P. (2009), “Unconventional Monetary Policies: An Appraisal”,
BIS Working Paper No. 292, Monetary and Economic Department, November, Basel,
Switzerland: Bank for International Settlements.
LECTURE 8: Future Economic Policies in view of the Current Crisis
READING:
Arestis, P. and Sawyer, M. (2010), “21st Century Keynesian Economic Policies”, in P.
Arestis and M. Sawyer (eds.), 21st Century Keynesian Economics,, International Papers
in Political Economyy Series, Palgrave Macmillan
Eggerston, G. B. (2006), “Fiscal multipliers and policy coordination”, Federal Reserve
Bank of New York Staff Reports,
Reports, No. 241, New York: Federal Reserve Bank of New
York.
Ferguson, R. (2005), “Monetary
Monetary Credibility, Inflation, and Economic Growth”, Speech
at the Cato Institute 23rd Annual Monetary Conference on Monetary Institutions and
Economic
Development,
Development,
Washington,
D.C.
November 3
Ghosh, A. and Phillips, S. (1998), “Warning: Inflation May be
be Harmful to Your
Growth”, IMF Staff Papers,
Papers 45(4), 672-710
Biografia Resumida - Professor Philip Arestis
O Prof. Philip Arestis é professor da Universidade de Cambridge, Inglaterra;
diretor de pesquisa do Centro de Economia e Políticas Públicas de Cambridge (CCEPP);
professor da Universidade do País Basco, Espanha; Pesquisador Associado do Levy
Economics Institute, Nova York, Estados
Estados Unidos; professor Adjunto da Universidade de
Utah,
tah, Estados Unidos; Professor Visitante da Universidade de Leeds, Inglaterra; e
Pesquisador Associado da Escola de Estudos Orientais e Africanos (SOAS), da
Universidade de Londres, Inglaterra.
Philip publicou
blicou como autor ou editor, bem como co-autor
co autor e co-editor,
co
em
diversos livros, desde Introducing Macroeconomic Modelling: An Econometric Study of
the United Kingdom (Macmillan, 1982) até Money, Pricing Distribution and Economic
Integration (Macmillan, 1997), e The Euro: Evolution and Prospects (Edward Elgar
Publishers, 2001). Livros mais recentes incluem Re-Examining
Examining Monetary and Fiscal
Policies in the Twenty First Century (Edward Elgar Publishers, 2004), The Post-Bubble
US Economy: Implications
ications for Financial Markets and the Economy (Palgrave
Macmillan, 2004), Is There a New Consensus in Macroeconomics? (Palgrave
Macmillan, 2004), The Post ‘Great Recession’ US Economy: Implications for Financial
Markets and the Economy (Palgrave Macmillan, 2010); The Financial Crisis: Origins and
Implications, (Palgrave Macmillan, 2011); An Assessment of the Global Impact of the
Financial Crisis,, (Palgrave Macmillan, 2011); New Economics as Mainstream Economics,
Economics
(Palgrave Macmillan, 2011); Microeconomics,
mics, Macroeconomics and Economic Policy:
Essays in Honour of Malcolm Sawyer, (Palgrave Macmillan, 2011); The Euro Crisis,
(Palgrave Macmillan, 2012).
Contribuiu na forma de convidado em diversos capítulos de livros e produziu
diversos relatórios de pesquisa
pesqu para institutos de pesquisa. Tem publicado diversos
artigos em revistas acadêmicas como American Journal of Economics and Sociology,
Sociology
Applied Economics, Applied Economic Letters, Applied Financial Economics, Banca
Nazionale Del Lavoro Quarterly Review, Bulletin of Economic Research, Cambridge
Journal of Economics, Cambridge Journal of Regions, Economy and Society, Eastern
Economic Journal, Economie Applique, Economic Journal, Economic Inquiry, Economics
Letters, Empirica, Ensayos Económicos, Greek Economic
Economic Review, History of Economic
Ideas, International Journal of Finance and Economics, International Journal of Public
Policy, International Papers in Public Policy International Review of Applied Economics,
Intervention, European Journal of Economics
Economics and Economic Policies, Journal of Money,
Credit and Banking, Journal of Economic Analysis, Journal of Economic Issues, Journal
of Macroeconomics, Journal of Post Keynesian Economics, Journal of Public Policy,
Journal of Economic Surveys,Journal of Contemporary
Contemporary European Studies, Kredit und
Kapital, Manchester School of Economic and Social Research, Mathematical Modelling,
Metroeconomica, Panoeconomicus, Public Finance, Review of Economic Issues, Review
of Political Economy, Review of Radical Political Economy, Review of Social Economy,
RFEC Feminist Economics, Revista Venezolana de Análisis de Coyuntura/IIES-
UCVScottish Journal of Political Economy, Structural Change and Economic Dynamics,
Weltwirschaftiches Archiv, World Economy and Zeitschrift fur Nationalokonomie.
Nationalokonomie
Atualmente, faz parte do corpo editorial do International Review of Applied Economics,
the Journal of Post Keynesian Economics, the Journal of Finance and Economics, the
Eastern Economic Journal, the Review of Social Economy, the International
Internat
Journal of
Public Policy; Applied Economics: Systematic Research; European Journal of Economics
and Economic Policies: Intervention (EJEEP); e Frontiers in Finance and Economics.
Economics É coeditor do International Papers in Political Economy,
Economy e foi editor convidado da edição
especial do Manchester School of Economic and Social Research,
Research, bem como do Eastern
Economic Journal.