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 Haldane, Claudio Borio, Stanley Fischer, Choongsoo Kim, Sheila Bair, Jeremy Stein, Jean Tirole, John Stuart Vickers, Adair Turner, Janice Eberly, Anders Borg, Roberto Perotti, Nouriel Roubini, Agustín Carstens, Jay C. Shambaugh, Martin Wolf, Gang Yi, Duvvuri Subbarao, José De Gregorio, Marcio Holland, Hélène Rey, George A. Akerlof, David Romer, Joseph E. Stiglitz

Series: The MIT Press

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ISBNs
  • 0262323451
  • 9780262027342
  • 9780262323451

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.

  • The MIT Press; May 2014
  • ISBN: 9780262323451
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  • Title: What Have We Learned?
  • Series: The MIT Press
  • Author: George A. Akerlof (ed.); Olivier Blanchard (ed.); David Romer (ed.); Joseph E. Stiglitz (ed.); Olivier Blanchard (contrib.); Giovanni Dell'Ariccia (contrib.); Paolo Mauro (contrib.); Janet Yellen (contrib.); Lorenzo Bini Smaghi (contrib.); Mervyn King (contrib.); Mike Woodford (contrib.); Andy Haldane (contrib.); Claudio Borio (contrib.); Stanley Fischer (contrib.); Choongsoo Kim (contrib.); Sheila Bair (contrib.); Jeremy Stein (contrib.); Jean Tirole (contrib.); John Stuart Vickers (contrib.); Adair Turner (contrib.); Janice Eberly (contrib.); Anders Borg (contrib.); Roberto Perotti (contrib.); Nouriel Roubini (contrib.); Agustín Carstens (contrib.); Jay C. Shambaugh (contrib.); Martin Wolf (contrib.); Gang Yi (contrib.); Duvvuri Subbarao (contrib.); José De Gregorio (contrib.); Marcio Holland (contrib.); Hélène Rey (contrib.); George A. Akerlof (contrib.); David Romer (contrib.); Joseph E. Stiglitz (contrib.)
  • Imprint: The MIT Press
Subject categories
ISBNs
  • 0262323451
  • 9780262027342
  • 9780262323451
Subject categories
ISBNs
  • 0262323451
  • 9780262027342
  • 9780262323451