A Modern Guide to State Intervention
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A Modern Guide to State Intervention

Economic Policies for Growth and Sustainability

Edited by Nikolaos Karagiannis and John E. King

A Modern Guide to State Intervention investigates the impact of the changing role of the state, offering an alternative political economy for the third decade of the twenty-first century. Building on important factors including history, the role of institutions, society and economic structures, this Modern Guide considers economic and administrative interventions towards changing the destabilized status quo of modern societies.
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Chapter 4: Monetary policy

Jan Toporowski

Abstract

Toporowski reviews important monetary theory and policy notions, and discusses monetary policy setting, endogeneity and the structure of financial markets. By examining the main reasons that can lead to monetary policy failure to influence economic decisions, the author strongly advocates those structural connections between financing and monetary policy that make monetary policy endogenous and are exactly the ones that are relied upon in alleviating financial instability.

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