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Evolution or Revolution?: Rethinking Macroeconomic Policy after the Great Recession (Mit Press) - Hardcover
Synopsis
Leading economists discuss post–financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability.
The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead...
About the Author
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.
Lawrence H. Summers is Charles W. Eliot Professor and President Emeritus at Harvard University. He served as Secretary of the Treasury in the Clinton administration and as Director of the National Economic Council in the Obama administration.
Review
This thought-provoking and acccessible collection of reflections by economists, central bankers, and government officials explores how the unusual circumstances that have characterized the global economy since 2007 should change economists' understanding of macroeconomic policy.
―Foreign Affairs"About this title" may belong to another edition of this title.
- PublisherThe MIT Press
- Publication date2019
- ISBN 10 0262039362
- ISBN 13 9780262039369
- BindingHardcover
- LanguageEnglish
- Edition number1
- Number of pages392
- EditorBlanchard Olivier, Summers Lawrence H.
- Rating
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