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Author: Olivier Blanchard Publisher: MIT Press ISBN: 0262526824 Category : Business & Economics Languages : en Pages : 251
Book Description
Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers 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. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
Author: Olivier Blanchard Publisher: MIT Press ISBN: 0262526824 Category : Business & Economics Languages : en Pages : 251
Book Description
Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers 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. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
Author: Laurent Ferrara Publisher: Springer ISBN: 3319790757 Category : Business & Economics Languages : en Pages : 300
Book Description
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Author: Maurice Obstfeld Publisher: Edward Elgar Publishing ISBN: 178100630X Category : Business & Economics Languages : en Pages : 291
Book Description
In 2008, the global economy experienced the most severe crash since World War II. A sharp collapse in international trade followed, leaving no country on the globe immune to a sequence of economic shocks. This timely book explores many of the key issues raised in the wake of the global economic crisis and provides an in-depth analysis of crisis transmission to emerging markets. The expert contributors compare the recent crisis with earlier crises, explore international aspects of the crisis from the perspectives of markets and trade, and examine macroeconomic policy responses. In so doing, they address important questions including: How did this crisis differ from those suffered previously? How and why did flaws in financial markets contribute to the crisis? How important were global imbalances and global overheating in explaining the global meltdown? Did different pre-crisis fundamentals generate different post-crisis performances? And, how severe were the economic shocks to countries such as Korea and other emerging economies? Academics, students and policymakers in the fields of economics, international economics, finance money and banking and Asian studies will find this book to be a thought-provoking and stimulating read.
Author: Ben Clift Publisher: Oxford University Press ISBN: 0198813082 Category : Business & Economics Languages : en Pages : 297
Book Description
This book analyses the IMF's role as arbiter of legitimate economic policy since the 2008 crash, and during aftershocks of the Eurozone crisis.
Author: Barry J. Eichengreen Publisher: World Scientific ISBN: 9814383031 Category : Business & Economics Languages : en Pages : 230
Book Description
The global credit crisis of 2008 2009 was the most serious shock to the world economy in fully 80 years. It was for the world as a whole what the Asian crisis of 1997 1998 was for emerging markets: a profoundly alarming wake-up call. By laying bare the fragility of global markets, it raised troubling questions about the operation of our deeply integrated world economy. It cast doubt on the efficacy of the dominant mode of light-touch financial regulation and more generally on the efficacy of the prevailing commitment to economic and financial liberalization. It challenged the managerial capacity of inherited institutions of global governance. And it augured a changing of the guard, pointing to the possibility that the economies that had been the leaders in the "global growth stakes" in the past might no longer be the leaders in the future. What the crisis means for reform, however, is still unclear. This book brings together leading scholars and policy analysts to describe and weigh the options. Successive chapters assess options for the global financial system, the global trading system, the international monetary system, and the Group of 20 and global governance. A final set of chapters contemplates the policy challenges for emerging markets and the advanced economies in the wake of the financial crisis.
Author: José De Gregorio Publisher: Columbia University Press ISBN: 0881326798 Category : Business & Economics Languages : en Pages : 205
Book Description
Why has the economy of Latin America responded more positively than Asia, Europe or the United States after being hit by the recent global financial crisis? Three years after the worst of the crisis, Latin America's GDP is 25 percent higher than its precrisis level. José De Gregorio, Governor of the Central Bank of Chile from 2007 to 2011, tells the story of how Latin America has responded to the crisis with a perspective that only an insider can have. De Gregorio focuses on the seven largest economies of the region, Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela (90 percent of the region's output). He argues that Latin America was resilient because of good macroeconomic policies, strong financial systems, and "a bit of luck."
Author: Cleo Paskal Publisher: St. Martin's Press ISBN: 0230104819 Category : Political Science Languages : en Pages : 289
Book Description
In a perfect storm, the environment, the global economic system and geopolitics are all undergoing rapid, uncontrolled change. In the same way that the climate is in a state of flux, exhibiting erratic behavior before settling into a new norm, in the wake of the global economic crisis, many of the assumptions about the Western economic system have been destroyed, which leads to some troubling questions: How aggressive will water-hungry China become in order to secure a sufficient supply of it? What will happen when climate-triggered conflicts like the one in Sudan spread throughout the continent? As India takes its proper place at the high table of nations and begins large-scale importing of food, what will happen to already shrinking supplies? Global Warring takes a hard look at these questions. Journalist and analyst Cleo Paskal identifies problem areas that are most likely to start wars, destroy economies and create failed states. Examining the most likely environmental change scenarios, she illuminates the ways in which they could radically alter human existence. A fascinating tour through our uncertain future, Global Warring also offers a controversial new way forward for the global economy and the worldwide environmental crisis.
Author: Kyla Tienhaara Publisher: ISBN: 9780367430214 Category : Economic policy Languages : en Pages : 190
Book Description
It is widely accepted that limiting climate change to 2°C will require substantial and sustained investments in low-carbon technologies and infrastructure. However, the dominance of market fundamentalism in economic thinking for the past three decades has meant that governments have generally viewed large spending programs as politically undesirable. In this context, the Global Financial Crisis (GFC) represented a huge opportunity for proponents of public investment in environmental projects or "Green Keynesianism". This book examines the experience of Australia, Canada, Japan, Korea, and the United States with Green Keynesian stimulus programs in the wake of the GFC. Unfortunately, on the whole, the cases do not provide much optimism for proponents of Green Keynesianism. Much less funding than was originally allocated to green programs was actually spent in areas that would produce an environmental benefit. Furthermore, a number of projects had negligible or even detrimental environmental outcomes. While the book also documents several success stories, the research indicates overall that more careful consideration of the design of green stimulus programs is needed. In addition to concrete policy advice, the book provides a broader vision for how governments could use Keynesian policies to work toward creating an "ecological state". This book will be of great interest to students and scholars of environmental politics, environmental economics, political economy, and sustainable development.
Author: Christian Schweiger Publisher: Edward Elgar Publishing ISBN: 1781003890 Category : Political Science Languages : en Pages : 233
Book Description
This authoritative book offers a complete breakdown of the EUês political economy in the wake of the global financial crisis and will therefore appeal to students of European politics, international political economy and European studies, as well as po
Author: M. Ayhan Kose Publisher: World Bank Publications ISBN: 1464815453 Category : Business & Economics Languages : en Pages : 403
Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author: Olivier Blanchard
Author: Olivier Blanchard
Author: Laurent Ferrara
Author: Maurice Obstfeld
Author: Ben Clift
Author: Barry J. Eichengreen
Author: José De Gregorio
Author: Cleo Paskal
Author: Kyla Tienhaara
Author: Christian Schweiger
Author: M. Ayhan Kose