What Have We Learned? Macroeconomic Policy After the Crisis
May 20, 2014
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Summary
Since 2008, economic policymakers and researchers have occupied a brave new economic world. Previous consensuses have been upended, former assumptions have been cast into doubt, and new approaches have yet to stand the test of time. Policymakers have been forced to improvise and researchers to rethink basic theory. George Akerlof, Nobel Laureate and one of this volume’s editors, compares the crisis to a cat stuck in a tree, afraid to move. In April 2013, the International Monetary Fund brought together leading economists and economic policymakers to discuss the slowly emerging contours of the macroeconomic future. This book offers their combined insights.
The contributors consider the lessons learned from the crisis and its aftermath. They discuss, among other things, post-crisis questions about the traditional policy focus on inflation; macroprudential tools (which focus on the stability of the entire financial system rather than of individual firms) and their effectiveness; fiscal stimulus, public debt, and fiscal consolidation; and exchange rate arrangements.
Subject: Balance of payments, Banking, Capital controls, Capital flows, Capital inflows, Exchange rate arrangements, Financial sector policy and analysis, Fiscal policy, Foreign exchange, Macroprudential policy
Keywords: Africa, Asia and Pacific, BOOK, Capital, Capital control, Capital controls, Capital flows, Capital inflows, Caribbean, Central bank, Eastern Europe, Economic system, Europe, Exchange rate arrangements, Fiscal policy multiplier, Global, Government expenditure multiplier, House price, Inflation expectation, Inflation targeting, Inflation-targeting framework, Macroprudential policy, Monetary policy, Price, Stabilization target
Publication Details
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Pages:
369
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Volume:
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DOI:
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Issue:
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Series:
Books
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Stock No:
RMCPEA
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ISBN:
9780262027342
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ISSN:
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