List of Figures List of Tables Foreword Notes on Contributors Presidential Address Introduction-- Joseph E. Stiglitz Towards a General Theory of Deep Downturns Keynote addresses by Central Bank Governors 1. The Practice and Theory of Unconventional Monetary Policy-- Haruhiko Kuroda, Governor of the Central Bank of Japan 2. Monetary Policy in a Constrained Environment-- Ziad Fariz, Governor of the Central Bank of Jordan PART I: MACROECONOMIC THEORY FOR UNDERSTANDING FLUCTUATIONS AND CRISES 3. A Theory of Pseudo-Wealth-- Martin Guzman and Joseph E. Stiglitz 4. Great Recession and Beyond: Revisiting the Pillars of Economic Thought-- A. Erinc Yeldan 5. Is Financial Stability Possible in the Current International System?-- James M. Boughton 6. Learning, Expectations, and the Financial Instability Hypothesis-- Martin Guzman and Peter Howitt PART II: MACROECONOMIC POLICIES IN UNSTABLE TIMES 7. The Short-and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter-- Giovanni Dosi, Mauro Napoletano, Andrea Roventini, and Tania Treibich 8. Structural Divergence and Crisis in the Eurozone: The Role of NAIRU Economics-- Servaas Storm and C.W.M. Naastepad 9. Managing the Exchange Rate in the Face of Volatile Capital Flows-- Jonathan D. Ostry 10. Achieving Coherence Between Macroeconomic and Development Objectives-- Gerald Epstein PART III: CENTRAL BANKING AND MONETARY POLICY 11. Re-imagining Central Banking-- Perry Mehrling 12. Taking Banks to Solow-- Hans Gersbach, Jean-Charles Rochet, and Martin Scheffel Index.