Contemporary Issues in Macroeconomics (eBook)

Joseph E. Stiglitz is an American economist and a professor at Columbia University. A recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979), he is a former senior vice president and chief economist of the World Bank, and a former member and chairman of the (US president's) Council of Economic Advisers. In 2000, Stiglitz founded the Initiative for Policy Dialogue, a think tank on international development based at Columbia University, USA.Martin Guzman is a postdoctoral research fellow at Columbia University Business School, USA, and Associate Professor at the University of Buenos Aires, Argentina. He is also a member of the INET Taskforce on Macroeconomic Externalities and a senior fellow at the Centre for International Governance Innovation.

List of FiguresList of TablesForewordNotes on ContributorsPresidential Address Introduction; Joseph E. StiglitzTowards a General Theory of Deep DownturnsKeynote addresses by Central Bank Governors1. The Practice and Theory of Unconventional Monetary Policy; Haruhiko Kuroda, Governor of the Central Bank of Japan2. Monetary Policy in a Constrained Environment; Ziad Fariz, Governor of the Central Bank of JordanPART I: MACROECONOMIC THEORY FOR UNDERSTANDING FLUCTUATIONS AND CRISES 3. A Theory of Pseudo-Wealth; Martin Guzman and Joseph E. Stiglitz4. Great Recession and Beyond: Revisiting the Pillars of Economic Thought; A. Erinc Yeldan5. Is Financial Stability Possible in the Current International System?; James M. Boughton6. Learning, Expectations, and the Financial Instability Hypothesis; Martin Guzman and Peter HowittPART II: MACROECONOMIC POLICIES IN UNSTABLE TIMES7. The Short-and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter; Giovanni Dosi, Mauro Napoletano, Andrea Roventini, and Tania Treibich8. Structural Divergence and Crisis in the Eurozone: The Role of NAIRU Economics; Servaas Storm and C.W.M. Naastepad9. Managing the Exchange Rate in the Face of Volatile Capital Flows; Jonathan D. Ostry10. Achieving Coherence Between Macroeconomic and Development Objectives; Gerald EpsteinPART III: CENTRAL BANKING AND MONETARY POLICY11. Re-imagining Central Banking; Perry Mehrling 12. Taking Banks to Solow; Hans Gersbach, Jean-Charles Rochet, and Martin ScheffelIndex