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Macroeconomic Policy after the Global Financial Crisis

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  • Quiggin, John

Abstract

This chapter describes the ideology of market liberalism, the macroeconomic policies and institutions it produced, and the failure of those policies and institutions that produced the GFC and the subsequent deep recession in most developed countries. Although it is impossible to prescribe a fully-developed alternative policy framework at this point, new directions in macroeconomic policy are sketched out, including countercyclical fiscal policy, the need for an increase in public sector revenue and expenditure, and new approaches to monetary policy and financial regulation.

Suggested Citation

  • Quiggin, John, 2013. "Macroeconomic Policy after the Global Financial Crisis," Risk and Sustainable Management Group Working Papers 156935, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqsers:156935
    DOI: 10.22004/ag.econ.156935
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    Keywords

    Political Economy; Public Economics;

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