In the Wake of the Crisis Leading Economists Reassess Economic Policy

by Blanchard, Olivier; Romer, David; Spence, Michael; Stiglitz, Joseph E.

• ISBN13: 9780262526821
• ISBN10: 0262526824
• Format: Paperback
• Copyright: 2014-08-29
• Publisher: The MIT Press

Summary

Prominent economists reconsider the fundamentals of economic policy for a post-crisis world.

In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment.

The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices.

Contributors
Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner

Author Biography

Olivier Blanchard is C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics in Washington, DC. He was Chief Economist at the International Monetary Fund from 2008 to 2015.

David Romer is Herman Royer Professor of Political Economy at the University of California, Berkeley.

Michael Spence, co-recipient of the 2001 Nobel Prize in Economics, is Professor Emeritus of Management at Stanford University's Graduate School of Business and Professor of Economics at New York University's Stern School of Business. He served as Chairman of the Commission on Growth and Development from 2006 to 2010 (the life of the commission). He is the author of The Next Convergence: The Future of Economic Growth in a Multispeed World.

Joseph Stiglitz, a 2001 Nobel Laureate, is University Professor at Columbia University.

Olivier Blanchard is C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics in Washington, DC. He was Chief Economist at the International Monetary Fund from 2008 to 2015.

Otmar Issing is President of the Center for Financial Studies at Goethe University in Frankfurt. He has been a member of the executive boards of the Bundesbank (German Central Bank) and the European Central Bank (where he was also Chief Economist). He is the author of The Birth of the Euro and Monetary Policy in the Euro Area.

Joseph Stiglitz, a 2001 Nobel Laureate, is University Professor at Columbia University.

David Romer is Herman Royer Professor of Political Economy at the University of California, Berkeley.

Robert M. Solow is Institute Professor of Economics.

Adair Turner, Chairman of Britain's Financial Services Authority from September 2008 to March 2013, is a Senior Fellow of the Institute for New Economic Thinking. He is Visiting Professor at the London School of Economics and at Cass Business School, City University London, and the author of Just Capital: The Liberal Economy.

Ricardo J. Caballero is Ford International Professor of Economics at MIT.

Dani Rodrik is Ford Foundation Professor of International Political Economy at Harvard's John F. Kennedy School of Government.

Michael Spence, co-recipient of the 2001 Nobel Prize in Economics, is Professor Emeritus of Management at Stanford University's Graduate School of Business and Professor of Economics at New York University's Stern School of Business. He served as Chairman of the Commission on Growth and Development from 2006 to 2010 (the life of the commission). He is the author of The Next Convergence: The Future of Economic Growth in a Multispeed World.

Maurice Obstfeld is Class of 1958 Professor of Economics at the University of California, Berkeley.