Gerald Epstein — Development Central Banking, Part 1

This is part 1 of a two-part series by regular contributor and Political Economy Research Institute (PERI) co-director Gerald Epstein, adapted from his recent International Labour Office (ILO) working paper “Development Central Banking: A Review of Issues and Experiences.” This post focuses on the “inflation targeting” central-bank policy pushed on developing countries under the “Washington Consensus” and what is wrong with it. Part 2, next week, will follow with answers to the principal mainstream objections to a broader “development central banking.”

Triple Crisis
Development Central Banking, Part 1
Gerald Epstein | Professor, Department of Economics, Co-Director, PERI (Political Economy Research Institute), University of Massachusetts - Amherst