Evolution or revolution? : rethinking macroeconomic policy after the Great recession / edited by Olivier Blanchard and Lawrence H. Summers.

Format:

Book

Contributor:

Blanchard, Olivier (Olivier J.), editor.

Summers, Lawrence H., editor.

Language:

English

Subjects (All):

Macroeconomics.

Fiscal policy.

Economic policy.

Genre:

Conference papers and proceedings.

Physical Description:

xliii, 342 pages : illustrations ; 24 cm

Place of Publication:

Cambridge, MA : MIT Press, [2019]

Contents:

Preface

Introduction: Rethinking stabilization policy : evolution or revolution? / Olivier Blanchard and Lawrence H. Summers

Part I: Monetary policy. Monetary policy in a new era / Ben S. Bernanke

Responses: Rethinking monetary policy in a new normal / Lael Brainard ; Postcrisis monetary policy from the perspective of small open economies / Philipp Hildebrand ; Monetary policy in the wake of the crisis / Adam S. Posen ; Historical lessons from the euro area crisis for monetary policy / Mario Draghi

Part II: Fiscal policy. Fiscal policy / Alan J. Auerbach

Responses: Adverse effects of unsound fiscal policies : the U.S. example / Robert E. Rubin ; Fiscal policy in the European Economic and Monetary Union : an evolving view / Marco Buti ; Fiscal policy : tax and spending multipliers in the United States / Valerie Ramey ; Rethinking fiscal policy / Jay C. Shambaugh

Part III: Financial policy. Rethinking financial stability / David Aikman, Andrew G. Haldane, Marc Hinterschweiger, and Sujit Kapadia

Responses: The role of monetary policy in guaranteeing financial stability / Markus K. Brunnermeier ; The known unknowns of financial regulation / Benott Coeure ; Financial stability and macroprudential policies / Nellie Liang ; Some thoughts on the merits of multipolar regulation / Jeremy C. Stein

Part IV: Inequality and political economy. Should policymakers care whether inequality is helpful or harmful for growth? / Jason Furman

Responses: Policy, inequality, and growth / Dani Rodrik ; Absolute mobility matters, too : regenerating people and cities / Tharman Shanmugaratnam

Part V: International economy issues. Rethinking international macroeconomic policy / Gita Gopinath

Responses: The difficulty of separation / Raghuram Rajan ; Some factors shaping the international financial landscape of the future / Pierre-Olivier Gourinchas ; Dollar pricing in international trade and finance / Barry Eichengreen ; The Triffin dilemma, Chinese opacity, and capital mobility : concluding remarks on international macroeconomic policy / Carmen Reinhart.

Notes:

Conference proceedings.

Includes bibliographical references and index.

ISBN:

9780262039369

0262039362

OCLC:

1048014415