Evolution or Revolution?

Rethinking Macroeconomic Policy after the Great Recession

Business & Finance, Economics, Macroeconomics
Cover of the book Evolution or Revolution? by , The MIT Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: ISBN: 9780262351287
Publisher: The MIT Press Publication: March 22, 2019
Imprint: The MIT Press Language: English
Author:
ISBN: 9780262351287
Publisher: The MIT Press
Publication: March 22, 2019
Imprint: The MIT Press
Language: English

Leading economists discuss post–financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability.

The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead to yet another major reassessment, to another intellectual revolution? Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics.

The contributors discuss the complex role of the financial sector, the relative roles of monetary and fiscal policy, the limits of monetary policy to address financial stability, the need for fiscal policy to play a more active role in stabilization, and the relative roles of financial regulation and macroprudential tools. The general message is a warning against going back to precrisis ways—to narrow inflation targeting, little use of fiscal policy for stabilization, and insufficient financial regulation.

Contributors
David Aikman, Alan J. Auerbach, Ben S. Bernanke, Olivier Blanchard, Lael Brainard, Markus K. Brunnermeier, Marco Buti, Benoît Cœuré, Mario Draghi, Barry Eichengreen, Jason Furman, Gita Gopinath, Pierre-Olivier Gourinchas, Andrew G. Haldane, Philipp Hildebrand, Marc Hinterschweiger, Sujit Kapadia, Nellie Liang, Adam S. Posen, Raghuram Rajan, Valerie Ramey, Carmen Reinhart, Dani Rodrik, Robert E. Rubin, Jay C. Shambaugh, Tharman Shanmugaratnam, Jeremy C. Stein, Lawrence H. Summers

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Leading economists discuss post–financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability.

The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead to yet another major reassessment, to another intellectual revolution? Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics.

The contributors discuss the complex role of the financial sector, the relative roles of monetary and fiscal policy, the limits of monetary policy to address financial stability, the need for fiscal policy to play a more active role in stabilization, and the relative roles of financial regulation and macroprudential tools. The general message is a warning against going back to precrisis ways—to narrow inflation targeting, little use of fiscal policy for stabilization, and insufficient financial regulation.

Contributors
David Aikman, Alan J. Auerbach, Ben S. Bernanke, Olivier Blanchard, Lael Brainard, Markus K. Brunnermeier, Marco Buti, Benoît Cœuré, Mario Draghi, Barry Eichengreen, Jason Furman, Gita Gopinath, Pierre-Olivier Gourinchas, Andrew G. Haldane, Philipp Hildebrand, Marc Hinterschweiger, Sujit Kapadia, Nellie Liang, Adam S. Posen, Raghuram Rajan, Valerie Ramey, Carmen Reinhart, Dani Rodrik, Robert E. Rubin, Jay C. Shambaugh, Tharman Shanmugaratnam, Jeremy C. Stein, Lawrence H. Summers

More books from The MIT Press

Cover of the book Recycling Reconsidered by
Cover of the book The Interdisciplinary Science of Consumption by
Cover of the book Reform of the International Monetary System by
Cover of the book Guardians of Finance by
Cover of the book Unlocking Energy Innovation by
Cover of the book Children with Specific Language Impairment by
Cover of the book Islamic Science and the Making of the European Renaissance by
Cover of the book Tap by
Cover of the book Lonely Ideas by
Cover of the book The Copyright Book by
Cover of the book Blockheads! by
Cover of the book Liberalism in Practice by
Cover of the book The Technology Fallacy by
Cover of the book Making Design Theory by
Cover of the book Civic Ecology by
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy