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What Have We Learned? : Macroeconomic Policy after the Crisis

By: George A. Akerlof Olivier Blanchard David Romer Joseph E. Stiglitz Olivier Blanchard Giovanni Dell'Ariccia Paolo Mauro Janet Yellen Lorenzo Bini Smaghi Mervyn King Mike Woodford Andy G. Haldane Claudio Borio Stanley Fischer Choongsoo Kim Sheila Bair Jeremy C. Stein Jean Tirole John Stuart Vickers Adair Turner Janice Eberly Anders Borg Roberto Perotti Nouriel Roubini Agustin Carstens Jay C. Shambaugh Martin Wolf Gang Yi Duvvuri Subbarao Jose De Gregorio Marcio Holland Helene Rey George A. Akerlof David Romer Joseph E. Stiglitz (Author)

Ksh 8,100.00
Format :

Format(s): DRM PDF

ISBN-13: 9780262323444

Publisher: The MIT Press

Imprint: The MIT Press

Publication Date: May 16th, 2014

Country of Publication: US

Language: English

Pages: 368

Physical Edition EAN: 9780262027342

Category: Macroeconomics

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  • Author Bio

Top economists consider how to conduct policy in a world where previous beliefs have been shattered by the recent financial and economic crises.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 editors and contributors-who include the Nobel Laureate and bestselling author Joseph Stiglitz, Federal Reserve Vice Chair Janet Yellen, and the former Governor of the Bank of Israel Stanley Fischer-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.

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