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http://hdl.handle.net/1893/22506| Appears in Collections: | Economics Book Chapters and Sections |
| Title: | Monetary Policy |
| Author(s): | Dow, Sheila |
| Contact Email: | s.c.dow@stir.ac.uk |
| Editor(s): | Davis, JB Dolfsma, W |
| Citation: | Dow S (2015) Monetary Policy. In: Davis J & Dolfsma W (eds.) The Elgar Companion to Social Economics (second edition). Cheltenham: Edward Elgar, pp. 533-547. http://www.e-elgar.com/shop/the-elgar-companion-to-social-economics-second-edition |
| Keywords: | monetary policy theory of monetary policy money as a social relation |
| Issue Date: | 2015 |
| Date Deposited: | 13-Nov-2015 |
| Abstract: | First paragraph: The purpose of this chapter is to consider monetary policy in terms of real social experience. Monetary policy making is itself a real social experience for policy makers. In attempting to influence real behaviour, they employ theoretical ideas, conveyed with the rhetoric of expertise, to communicate with market players. They also do so within an institutional framework that itself reflects a particular set of ideas (in particular the neutrality of money). Yet, as Niebyl (1946) has demonstrated, ideas, institutional design and real practice can get out of phase with each other (reflecting power relations), to the detriment of effective monetary policy. Ingham (2004) echoes Niebyl’s emphasis on the role of power over ideas and thus of monetary policy. We will explore how this has played out in modern times (see further Dow, 2013). |
| Rights: | This item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. Publisher policy allows this work to be made available in this repository. Published in The Elgar Companion to Social Economics, Second Edition by Edward Elgar. The original publication is available at: http://www.e-elgar.com/shop/the-elgar-companion-to-social-economics-second-edition |
| URL: | http://www.e-elgar.com/shop/the-elgar-companion-to-social-economics-second-edition |
| Licence URL(s): | http://www.rioxx.net/licenses/under-embargo-all-rights-reserved |
| File | Description | Size | Format | |
|---|---|---|---|---|
| 2015 Monetary Policy 280514 APPROVED.pdf | Fulltext - Accepted Version | 367.77 kB | Adobe PDF | Under Embargo until 3000-12-01 Request a copy |
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