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Representations of knowledge in monetary policy processes: a discursive perspective

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  • Dana Gabor

    (SCEME, University of Stirling)

Abstract

Exploring knowledge in monetary policy process stands to benefit by departing from conceptualizing knowledge as an objective depiction of reality, a neutral language of science underpinning technocratic policy-making. This paper proposes a postpositivist perspective, approaching knowledge production as a process of struggle over truth claims which structures policy action by establishing boundaries for policy choices. To contextualize the mechanisms of knowledge generation, it explores the adoption by the National Bank of Romania of a new policy framework, Inflation Targeting, in August 2005. This allows a mapping of the knowledge agenda, the knowing subjects allowed to participate in policy talk and avenues for contesting truth claims.

Suggested Citation

  • Dana Gabor, 2007. "Representations of knowledge in monetary policy processes: a discursive perspective," SCEME Working Papers: Advances in Economic Methodology 019/2007, SCEME.
    • Handle: RePEc:sti:wpaper:019/2007
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    File URL: http://www.sceme.org.uk/wps/SCEME019_Gabor_2007.pdf
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    More about this item

    Keywords

    discourse analysis; MPC; monetary policy;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • Z1 - Other Special Topics - - Cultural Economics

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