|
|
ZVI ECKSTEIN |
||||||
|
|||||||
|
RESEARCH AND PUBLICATIONS - BOOKS THE GREAT RECESSION: LESSONS FOR CENTRAL
BANKERS JACOB BRAUDE, ZVI ECKSTEIN, STANLEY
FISCHER and KARNIT FLUG (editors)
The MIT Press, December 2012 Also available at Amazon The recent financial crisis shook not only the global economy but also
conventional wisdom about economic policy. After the collapse of Lehman
Brothers in September 2008, policy makers reversed course and acted on an
unprecedented scale. The policy response was remarkable both for its
magnitude and for the variety of measures undertaken. This book examines both
the major role central banks played in the crisis and the role they might
play in preventing or preparing for future crises. The contributors
focus on monetary policy, the new area of macroprudential
policy, and issues of exchange rates, capital flows, and banking and
financial markets. They look at the experiences of both developed and
emerging economies, considering why some, including Israel and Australia,
suffered only mild effects while others--Ireland for example--plunged into
severe financial crisis. |
|||||||
