TOICHIRO ASADA is Professor of Economics at Chuo University, Tokyo, Japan. His research interests include Macroeconomic Dynamic Theory and business cycles. He has published several books and many articles on Macroeconomic Dynamic Theory both in English and in Japanese. He has been employed at the New School for Social Research in New York, Bielefeld University in Germany and University of Technology Sydney as a visiting research scholar or visiting professor. PETER FLASCHEL is Professor Emeritus at Bielefeld University, Germany. His research interests are in dynamic macroeconomics and microeconomics and Classical value and price theory. He has published numerous articles and more than twenty books. He was invited as Theodor Heuss Professor to the New School for Social Research in 2006 and received an Opus Magnum Grant from the Fritz Thyssen / Volkswagen Stiftungen in 2007/08.   TARIK MOUAKIL is Research Associate at the Centre for Financial Analysis and Policy at the University of Cambridge. He holds a Phd from the University of Bordeaux, France. His research interests are in Monetary Economics, Financial Keynesianism, and Macroeconomic modelling. CHRISTIAN PROAÑO is Assistant Professor of Economics at the New School for Social Research in New York, USA. He studied economics at Bielefeld University in Germany, where he received a doctorate in economics 2008. From 2008 until mid 2010 he was a research economist at the Macroeconomic Policy Institute (IMK) in Düsseldorf, Germany. His main research interests are monetary policy and international finance.