Macroeconomic paradigms and economic policy : from the Great Depression to the Great Recession / Nicola Acocella, Sapienza University of Rome, Giovanni Di Bartolomeo, Sapienza University of Rome, Andrew Hughes Hallett, George Mason University, and University of St. Andrews.

Format:

Book

Author/Creator:

Acocella, Nicola, 1939- author.

Di Bartolomeo, Giovanni, 1969- author.

Hughes Hallett, Andrew, author.

Language:

English

Subjects (All):

Economic policy--History.

Economic policy.

History.

Macroeconomics.

Financial crises--History.

Financial crises.

Genre:

History.

Physical Description:

xiv, 339 pages : illustrations ; 26 cm

Place of Publication:

Cambridge, UK : Cambridge University Press, 2016.

Summary:

"The recent financial crisis has demonstrated the dangers of ignoring the factors that led to previous crises, and the effectiveness of the policies designed to deal with them. Over time, these macroeconomic policies have evolved, oscillating between state intervention and a free-market approach. Following a story that runs from the pre-Great Depression era up until the Financial Crisis of 2007-11, this book reveals an intimate connection between new macroeconomic ideas and policies and the events in the real economy that inspired them. It does this in an accessible, easy-to-follow style, first by focusing on the developments of economic theories and policies, and then by concentrating on the design of domestic and international institutions and economic governance. Written by three leading experts on the history of economic policy, the book is ideal for graduates and undergraduates studying macroeconomics, monetary policy and the history of economic thought"-- Provided by publisher.

"A spiral of expected inflation and deflation. According to the first view,the crisis was mostly triggered by an exogenous fall in demand for goods and services (a leftward shift of the IS curve).This explanation is consistent with the evidence that shows a drop in both output and interest rates at the onset of the crisis - especially in 1931-1932"-- Provided by publisher.

Contents:

The dawn of the Keynesian Age

The Phillips curve menu

The pro-market counterattack: powerless economic policies

Rethinking stabilization policies: good policies or good luck?

The great recession and beyond

Central banking

Fiscal regimes and fiscal policies

Further policy challenges

Conflicts and cooperation in the labor markets

Fixed exchange rates: the age of tempered liberalism

Free to float: the age of neoliberalism

A fragile European construction: the perils of incomplete coordination

Taking stock: the end of a ride or the start of a new one?.

Notes:

Includes bibliographical references (pages 297-319) and index.

ISBN:

9781107117723

1107117720

9781107542099

110754209X

OCLC:

946770289