The global economic crisis has kept forcing policymakers and academics to rethink macroeconomic policy. First was the Lehman crisis, which showed how much they had underestimated the dangers posed by the financial system, and the limits of monetary policy. Then it was the euro crisis, which forced them to rethink the workings of currency unions, and fiscal policy.
Rethinking macroeconomic policy: Getting granular
Olivier Blanchard, Giovanni Dell'Ariccia, Paolo Mauro, 31 May 2013
Solving the macroeconomic policy challenge in Europe
Richard Wood, 19 December 2012
Countries in Europe are either slipping into recession or experiencing worsening depression. Economies are headed in the wrong direction, and the malaise is spreading. The current orthodoxies are failing.
Did the Indian capital controls work as a tool of macroeconomic policy?
Ila Patnaik, Ajay Shah, 20 November 2012
The empirical literature on the effectiveness of capital controls for macroeconomic management has generally found that transitory capital controls have a relatively limited impact on the magnitude of flows (Magud et. al. 2011). Controls appear to influence the composition of capital flows, but they seem to do so only for a short time.
Jackson Hole, the crisis and policy responses: A new orthodoxy
Richard Wood, 31 August 2012
Demand, output, manufacturing activity and exports are weakening in many parts of the industrialised world. Quantitative easing policies have generally run their course, as interest rates are at the zero bound or thereabouts. In the Eurozone it is questionable whether the ‘one-size-fits-all’ policy interest rate approach is helpful or meaningful, or whether it can be sustained.
The future of macroeconomic policy: Nine tentative conclusions
Olivier Blanchard, 23 March 2011
The global economic crisis forces us to question our most cherished beliefs about the way we conduct macroeconomic policy. With this in mind, I have just organised, together with David Romer, Joe Stiglitz, and Michael Spence, a conference at the IMF on "Rethinking macroeconomic policy”.
Anna Pavlova, Roberto Rigobon, 15 February 2011
Financial markets and their role in international risk sharing have inspired a vast body of theoretical literature. Over the past 40 years, international finance and economics has evolved into a vibrant field spreading from the basic international version of the capital asset pricing model to some of the most sophisticated dynamic stochastic general equilibrium models.
Automatic stabilisers and the economic crisis in Europe and the US
Mathias Dolls, Clemens Fuest, Andreas Peichl, 17 September 2010
The big difference between the "great recession" and the "Great Depression" was government policy – especially stabilisation policy (Eichengreen and O'Rourke 2010).
Using states for macroeconomic fiscal policy
Robert P Inman, 15 September 2010
The recession of 2007 is perhaps the deepest, longest, and most damaging economic event of the last 75 years. In response, all tools of macroeconomic policy management were called into use: from direct easing of interest rates and purchasing of public and private debt to tax cuts and government spending.
EU Economic Integration: Lessons of the past, and what does the future hold?
17 - 19 March 2009, Dallas, Texas, USAThe Economics Interest Section of the European Union Studies Association (EUSA) and the Globalization & Monetary Policy Institute of the Federal Reserve Bank of Dallas are pleased to announce an economics workshop on European Integration. The meeting will be held at the Federal Reserve Bank of Dallas on 18-19th March, 2010 linked to a one-day public conference that the Institute is organising on 17 March on 10 years of the euro. Papers on any aspect of European economic integration are welcome, as well as papers that place European integration in the context of the ongoing globalization of trade and capital flows. Abstracts are to be sent to both Patrick Crowley at firstname.lastname@example.org and David Mayes at email@example.com by January 10th, 2010. Please indicate whether you would also be willing to serve as a chair and/or discussant.
- Patrick Crowley
- Dallas, Texas, USA
- Closed attendance
- European Union Studies Association; Federal Reserve Bank of Dallas
- More information:
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- Competition policy, Energy, Environment, EU institutions, EU policies, Europe's nations and regions, Exchange rates, Financial markets, Global crisis, Global economy, Global governance, Institutions and economics, International finance, International trade, Macroeconomic policy, Microeconomic regulation, Monetary policy, Politics and economics, Productivity and Innovation, Welfare state and social Europe
- Competition policy, economic policy, European integration, macroeconomic policy
Curbing instability: Policy and regulation
Axel Leijonhufvud, 11 July 2009
Macroeconomic perspectives have been largely missing in the debate on how to prevent a re-run of the present crisis. In CEPR Policy Insight 36, I focus on the macroeconomic instabilities that the crisis has revealed.
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- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Cadot, de Melo, 16 June 2014
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