What Have We Learned? Macroeconomic Policy After the Crisis

Author/Editor:

International Monetary Fund

Publication Date:

May 20, 2014

Summary:

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 contributors 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.

Series:

Books

Subject:

English

Publication Date:

May 20, 2014

ISBN/ISSN:

9780262027342/

Stock No:

RMCPEA

Format:

Paper

Pages:

369

Please address any questions about this title to publications@imf.org