The Great Recession: Lessons for Central Bankers
AbstractThe 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.
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Bibliographic InfoThis book is provided by The MIT Press in its series MIT Press Books with number 0262018340 and published in 2013.
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finance; econometrics; business economics; economic conditions;
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- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
- G0 - Financial Economics - - General
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