Progress and confusion : : the state of macroeconomic policy / / edited by Olivier Blanchard, Raghuram Rajan, Kenneth Rogoff, and Lawrence H. Summers.

• Superior document: The MIT Press
• TeilnehmendeR: Blanchard, Olivier
• Place / Publishing House: Cambridge, Massachusetts : : The MIT Press,, [2016]; ©2016
• Year of Publication: 2016
• Edition: 1st ed.
• Language: English
• Series: The MIT Press
• Physical Description: 1 online resource (313 p.)
• Notes: Description based upon print version of record.

Leading economists consider the shape and future of economic policy: Will it resume the pre-crisis consensus or contend with the post-crisis "new normal"? Have we made progress with addressing the major issues or does confusion remain in today's economic environment? Chapters address topics that range from the measurement of systemic risk to foreign exchange intervention.

Table of Contents

Contents; 1 A Road Map to "Progress and Confusion"; Part I The "New Normal"; 2 Debt Supercycle, Not Secular Stagnation; 3 Rethinking Secular Stagnation after Seventeen Months; Part II Systemic Risk and Financial Regulation; 4 A Note from the Session on Systemic Risk and Financial Regulation; 5 A Comparative Analysis of Financial Sector Health in the United States, Europe, and Asia; 6 Rethinking Financial Regulation: How Confusion Has Prevented Progress; 7 Systemic Risk and Financial Regulation: Where Do We Stand?; 8 Shadow Banking as a Source of Systemic Risk

Part III: Macroprudential Policies 9 Macroprudential Policy Regimes: Definition and Institutional Implications; 10 Macroprudential Tools, Their Limits, and Their Connection with Monetary Policy; 11 A Simple Cost-Benefit Analysis of Using Monetary Policy for Financial Stability Purposes; Part IV Monetary Policy in the Future; 12 Introduction to the Monetary Policy Section; 13 Monetary Policy in the Future; 14 A Monetary Policy for the Future; 15 The Credit Surface and Monetary Policy; 16 Remarks on the Future of Monetary Policy; Part V Fiscal Policy in the Future

17 Fiscal Policy for the Twenty-First Century: Testing the Limits of the Tax State?18 The Future of Fiscal Policy; 19 What Future for Rules-Based Fiscal Policy?; 20 On the Proper Size of the Public Sector and the Level of Public Debt in the Twenty-First Century; Part VI Capital Flows, Exchange Rate Management, and Capital Controls; 21 Floating Exchange Rates, Self-Oriented Policies, and Limits to Economic Integration; 22 Some Lessons of the Global Financial Crisis; 23 Capital Inflows, Exchange Rate Management, and Capital Controls; Part VII The International Monetary and Financial System

24 The International Monetary and Financial System: Eliminating the Blind Spot 25 Prospects and Challenges for Financial and Macroeconomic Policy Coordination; 26 Global Safe Asset Shortage: The Role of Central Banks; 27 Going Bust for Growth; Part VIII Conclusion; 28 Rethinking Macro Policy: Progress or Confusion?; List of Contributors; Index