Screen LibraryEvolution or revolution? : rethinking macroeconomic policy after the Great recession /
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...
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| Corporate Authors: | |
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| Group Author: | ; |
| Published: |
The MIT Press,
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| Publisher Address: | Cambridge, Massachusetts : |
| Publication Dates: | [2019] |
| Literature type: | Book |
| Language: | English |
| Subjects: | |
| Summary: |
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 and intellectual revolution?Will it? If so, what form should it, or will it, take? These are the questions taken up in the 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. |
| Item Description: |
Second place of publication taken from publisher's website. Conference proceedings. |
| Carrier Form: | xliii, 342 pages : illustrations ; 24 cm |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: |
9780262039369 0262039362 |
| Index Number: | HB172 |
| CLC: |
F110-532 F015-532 |
| Call Number: | F015-532/E939/2017 |