Başlık:
In the wake of the crisis : leading economists reassess economic policy
Yazar:
Blanchard, Olivier, editor.
ISBN:
9780262017619
Fiziksel Tanımlama:
x, 239 pages. : illustration. ; 24 cm.
Genel Not:
Conference proceedings.
İçerik:
Monetary policy -- Questions: how should the crisis affect our views of monetary policy? -- Monetary policy in the wake of the crisis / Olivier Blanchard -- Conventional wisdom challenged? Monetary policy after the crisis / Guillermo Ortiz -- Lessons for monetary policy / Otmar Issing -- Macroeconomics, monetary policy, and the crisis / Joseph Stiglitz -- Fiscal policy -- Questions: how should the crisis affect our views of fiscal policy? -- Fiscal stimulii and consolidation / Parthasarathi Shome -- What have we learned about fiscal policy from the crisis? / David Romer -- Fiscal policy responses to economic crisis / Sri Mulyani Indrawati -- Fiscal policy / Robert Solow -- Financial intermediation and regulation -- Questions: how should the crisis affect our views about financial intermediation and regulation? -- Financial crisis and financial intermediation: asking different questions / Y.V. Reddy -- Global liquidity / Hyun Song Shin -- Optimal financial intermediation: why more isn't always better / Adair Turner -- Process, responsibility, and Myron's law / Paul Romer -- Capital-account management -- Questions: how should the crisis affect our views of capital-account management? -- Notes on capital-account management / Ricardo Caballero -- Remarks on capital-account management / Arminio Fraga -- Capital-account management: key issues / Rakesh Mohan -- The case for regulating cross-border capital flows / José Antonio Ocampo -- Growth strategies -- Questions: how should the crisis affect our views of growth and growth strategies? -- Do we need to rethink growth policies / Dani Rodrik -- Is the Chinese growth model replicable? / Andrew Sheng -- Growth in the post-crisis world / Michael Spence -- The international monetary system -- Questions: how should the crisis affect our views of the international monetary system? -- The implication of cross-border banking and foreign currency swap lines for the international monetary system / Már Guðmundsson -- The international monetary system / Olivier Jeanne -- International monetary system reform : a practical agenda / Charles Collyns -- Liquidity and the international monetary system / Maurice Obstfeld -- Concluding remarks / Olivier Blanchard -- Index.
Özet:
In 2011, the International Monetary Fund invited prominent economists and economic policy makers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. For instance, to what extent are financial markets efficient and self-correcting? How crucial is low and stable inflation for growth and the real stability of the economy? How strong is the case for open capital markets? Too often, the standard models provided insufficient guidance on how to respond to the unprecedented situations created by the crisis. As a result, policy makers have been forced to improvise. What to do when interest rates reach the zero floor? How best to provide liquidity to segmented financial institutions and markets? How much to use fiscal policy starting from high levels of debt? These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital account management, growth strategies, and the international monetary system, and the economic models that should underpin thinking about critical policy choices. Among the new realities they consider are the swing of the pendulum toward regulation; the need for new theoretical approaches, incorporating advances in agency theory, behavioral economics, and understanding of credit markets and finance based on theories of imperfect information; and the importance for macroeconomic policy to target not just inflation but also output and financial stability. This title is copublished with The MIT Press.
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Library | Materyal Türü | Demirbaş | Yer Numarası | Durumu / Lokasyon / İade Tarihi |
|---|---|---|---|---|
Arıyor... | Kitap | EKOBKN0005906 | 339.5 IN 2012 | Arıyor... |