Progress and confusion : the state of macroeconomic policy / edited by Olivier Blanchard, Raghuram Rajan, Kenneth Rogoff, and Lawrence H. Summers.

Format:

Book

Contributor:

Blanchard, Olivier (Olivier J.), editor.

Language:

English

Subjects (All):

Monetary policy.

Fiscal policy.

Economic policy.

Macroeconomics.

Physical Description:

1 online resource (vii, 304 pages) : illustrations

Place of Publication:

Cambridge, Massachusetts : The MIT Press, [2016]

System Details:

text file

Summary:

Leading economists consider the shape and future of economic policy: Will it resume the pre-crisis consensus or contend with the post-crisis "new normal"? Have we made progress with addressing the major issues or does confusion remain in today's economic environment? Chapters address topics that range from the measurement of systemic risk to foreign exchange intervention.

Contents:

1 A Road Map to "Progress and Confusion" p. 1 / Olivier Blanchard and Rafael Portillo

The "New Normal"

2 Debt Supercycle, Not Secular Stagnation p. 19 / Kenneth Rogoff

3 Rethinking Secular Stagnation after Seventeen Months p. 29 / Lawrence H. Summers

Systemic Risk and Financial Regulation

4 A Note from the Session on Systemic Risk and Financial Regulation p. 41 / Paul A. Volcker

5 A Comparative Analysis of Financial Sector Health in the United States, Europe, and Asia p. 43 / Viral V. Acharya

6 Rethinking Financial Regulation: How Confusion Has Prevented Progress p. 61 / Anat R. Admati

7 Systemic Risk and Financial Regulation: Where Do We Stand? p. 73 / Philipp Hildebrand

8 Shadow Banking as a Source of Systemic Risk p. 81 / Robert E. Rubin

Macroprudential Policies: Gathering Evidence

9 Macroprudential Policy Regimes: Definition and Institutional Implications p. 89 / Paul Tucker

10 Macroprudential Tools, Their Limits, and Their Connection with Monetary Policy p. 99 / Hyun Song Shin

11 A Simple Cost-Benefit Analysis of Using Monetary Policy for Financial Stability Purposes p. 107 / Lars E. O. Svensson

Monetary Policy in the Future

12 Introduction to the Monetary Policy Section p. 121 / José Viñals

13 Monetary Policy in the Future p. 129 / Ben Bernanke

14 A Monetary Policy for the Future p. 135 / John B. Taylor

15 The Credit Surface and Monetary Policy p. 143 / John Geanakoplos

16 Remarks on the Future of Monetary Policy p. 155 / Gill Marcus

Fiscal Policy in the Future

17 Fiscal Policy for the Twenty-First Century: Testing the Limits of the Tax State? p. 165 / Vitor Caspar

18 The Future of Fiscal Policy p. 177 / Martin Feldstein

19 What Future for Rules-Based Fiscal Policy? p. 183 / Marco Buti

20 On the Proper Size of the Public Sector and the Level of Public Debt in the Twenty-First Century p. 197 / J. Bradford DeLong

Capital Flows, Exchange Rate Management, and Capital Controls

21 Floating Exchange Rates, Self-Oriented Policies, and Limits to Economic Integration p. 213 / Maurice Obstfeld

22 Some Lessons of the Global Financial Crisis from an EME and a Brazilian Perspective p. 219 / Luiz Awazu Pereira da Silva

23 Capital Inflows, Exchange Rate Management, and Capital Controls p. 233 / Agustín Carstens

The International Monetary and Financial System

24 The International Monetary and Financial System: Eliminating the Blind Spot p. 245 / Jaime Caruana

25 Prospects and Challenges for Financial and Macroeconomic Policy Coordination p. 255 / Zeti Akhtar Aziz

26 Global Safe Asset Shortage: The Role of Central Banks p. 261 / Ricardo J. Caballero

27 Going Bust for Growth p. 267 / Raghuram Rajan

28 Rethinking Macro Policy: Progress or Confusion? p. 287 / Olivier Blanchard.

Notes:

OCLC-licensed vendor bibliographic record.

ISBN:

9780262333450

0262333457

9780262333436

0262333430

9780262333443

0262333449

9780262535991

0262535998

OCLC:

949930782

Publisher Number:

40026253307

Access Restriction:

Open Access Unrestricted online access