What Have We Learned?
What Have We Learned? is a good collection of insights from top economists from different global perspectives, which teaches you how to conduct policy in an economy where previous beliefs have been altered by the recent financial and economic crises. With extensive discussions of the slow emergence of the macroeconomic future, it also considers the traditional policy focus on inflation; macroprudential tools and their effectiveness; fiscal stimulus, public debt, and fiscal consolidation; and exchange rate arrangements. This book also covers several high categories such as monetary policy, financial regulation, and capital account management.
TABLE OF CONTENTS
Introduction: Rethinking Macro Policy II—Getting Granular
Part I: Monetary Policy
1 Many Targets, Many Instruments: Where Do We Stand?
2 Monetary Policy, the Only Game in Town?
3 Monetary Policy during the Crisis: From the Depths to the Heights
4 Monetary Policy Targets after the Crisis
Part II: Macroprudential Policy
5 Macroprudential Policy in Prospect
6 Macroprudential Policy and the Financial Cycle: Some Stylized Facts and Policy Suggestions
7 Macroprudential Policy in Action: Israel
8 Korea’s Experiences with Macroprudential Policy
Part III: Financial Regulation
9 Everything the IMF Wanted to Know about Financial Regulation and Wasn’t Afraid to Ask
10 Regulating Large Financial Institutions
11 The Contours of Banking and the Future of Its Regulation
12 Banking Reform in Britain and Europe
13 Leverage, Financial Stability, and Deflation
Part IV: Fiscal Policy
14 Defining the Reemerging Role of Fiscal Policy
15 Fiscal Policy in the Shadow of Debt: Surplus Keynesianism Still Works
16 Fiscal Policies in Recessions
17 Fiscal Policy
Part V: Exchange Rate Arrangements
18 How to Choose an Exchange Rate Arrangement
19 Rethinking Exchange Rate Regimes after the Crisis
20 Exchange Rate Arrangements: Spain and the United Kingdom
21 Exchange Rate Arrangements: The Flexible and Fixed Exchange Rate Debate Revisited
Part VI: Capital Account Management
22 Capital Account Management: Toward a New Consensus?
23 Capital Flows and Capital Account Management
24 Managing Capital Inflows in Brazil
25 Capital Account Management
Part VII: Conclusions
26 The Cat in the Tree and Further Observations: Rethinking Macroeconomic Policy II
27 Rethinking Macroeconomic Policy
28 Preventing the Next Catastrophe: Where Do We Stand?
29 The Lessons of the North Atlantic Crisis for Economic Theory and Policy