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Palgrave Macmillan

Contemporary Issues in Macroeconomics

Lessons from The Crisis and Beyond

  • Book
  • © 2016

Overview

Editors:
  1. Joseph E. Stiglitz

    1. Columbia University, USA

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    You can also search for this editor in PubMed   Google Scholar

  2. Martin Guzman

    1. Columbia University Business School, USA
      University of Buenos Aires, Argentina

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    You can also search for this editor in PubMed   Google Scholar

  • Provides an authoritative perspective on contemporary issues in macroeconomics following the financial crisis
  • Contributors come from a range of influential economists and policy makers

Part of the book series: International Economic Association Series (IEA)

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Table of contents (14 chapters)

  1. Front Matter

    Pages i-xiv
    Download chapter PDF

  2. Introduction

    1. Introduction

      • Martin Guzman, Joseph E. Stiglitz
      Pages 1-4

  3. Keynote Addresses by Central Bank Governors

    1. Front Matter

      Pages 5-5
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    2. The Practice and Theory of Unconventional Monetary Policy

      • Haruhiko Kuroda
      Pages 7-14

    3. Monetary Policy in a Constrained Environment

      • Ziad Fariz
      Pages 15-18

  4. Macroeconomic Theory for Understanding Fluctuations and Crises

    1. Front Matter

      Pages 19-19
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    2. A Theory of Pseudo-Wealth

      • Martin Guzman, Joseph E. Stiglitz
      Pages 21-33

    3. Great Recession and Beyond: Revisiting the Pillars of Economic Thought

      • A. Erinc Yeldan
      Pages 34-41

    4. Is Financial Stability Possible in the Current International System?

      • James M. Boughton
      Pages 42-49

    5. Learning, Expectations, and the Financial Instability Hypothesis

      • Martin Guzman, Peter Howitt
      Pages 50-60

  5. The Measurement of Wealth

    1. Front Matter

      Pages 61-61
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    2. The Measurement of Wealth: Recessions, Sustainability and Inequality

      • Joseph E. Stiglitz
      Pages 63-76

  6. Macroeconomic Policies in Unstable Times

    1. Front Matter

      Pages 77-77
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    2. The Short- and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter

      • Giovanni Dosi, Mauro Napoletano, Andrea Roventini, Tania Treibich
      Pages 79-100

    3. Structural Divergence and Crisis in the Eurozone: The Role of NAIRU Economics

      • Servaas Storm, C. W. M. Naastepad
      Pages 101-128

    4. Managing the Exchange Rate in the Face of Volatile Capital Flows

      • Jonathan D. Ostry
      Pages 129-147

    5. Achieving Coherence Between Macroeconomic and Development Objectives

      • Gerald Epstein
      Pages 148-159

  7. Central Banking and Monetary Policy

    1. Front Matter

      Pages 161-161
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    2. Re-imagining Central Banking

      • Perry Mehrling
      Pages 163-175

    3. Taking Banks to Solow

      • Hans Gersbach, Jean-Charles Rochet, Martin Scheffel
      Pages 176-198
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Keywords

About this book

In this edited collection, Joseph Stiglitz and Martin Guzman present a series of studies on contemporary macroeconomic issues. The book discusses a set of key lessons for macroeconomic theory following the recent global financial crisis and explores unconventional monetary policy in a post-crisis world.

This volume is divided into five parts. The introduction includes keynote speeches by the Governors of the Bank of Japan and Central Bank of Jordan. Part one focuses on macroeconomic theory for understanding macroeconomic fluctuations and crises. Part two addresses the issue of the measurement of wealth. Part three discusses macroeconomic policies in times of crises. Finally, part four focuses on central banking and monetary policy.

Editors and Affiliations

  • Columbia University, USA

    Joseph E. Stiglitz

  • Columbia University Business School, USA

    Martin Guzman

  • University of Buenos Aires, Argentina

    Martin Guzman

About the editors

Joseph E. Stiglitz is an American economist and a professor at Columbia University. A recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979), he is a former senior vice president and chief economist of the World Bank, and a former member and chairman of the (US president's) Council of Economic Advisers. In 2000, Stiglitz founded the Initiative for Policy Dialogue, a think tank on international development based at Columbia University, USA.

Martin Guzman is a postdoctoral research fellow at Columbia University Business School, USA, and Associate Professor at the University of Buenos Aires, Argentina. He is also a member of the INET Taskforce on Macroeconomic Externalities and a senior fellow at the Centre for International Governance Innovation.

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