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"In the Wake of the Crisis : Leading Economists Reassess Economic Policy" Edited by Olivier Blanchard, David Romer, Michael Spence, and Joseph Stiglitz


  • Murat Ungor


To understand the issues raised by the recent global crisis, IMF organized a conference on March 7-8, 2011, around six themes: monetary policy, fiscal policy, financial intermediation and regulation, capital account management, growth strategies, and the international monetary system. The conference proceedings are published in a book, In the Wake of the Crisis: Leading Economists Reassess Economic Policy. This review presents a summary of the book and provides its implications for research and policy. The book contains 23 chapters, editors’ sets of questions and notes for each of the six areas; and concluding remarks by Olivier Blanchard. Each essay is about 4 to 13 pages in length; and provides concise, lucid descriptions, in non-technical language, of the recent crisis. Missing from the book is the adequate analysis of the increase in measures of aggregate productivity concurrent with strong contractions in output and employment; and the role of income inequality on the crisis.

Suggested Citation

  • Murat Ungor, 2013. ""In the Wake of the Crisis : Leading Economists Reassess Economic Policy" Edited by Olivier Blanchard, David Romer, Michael Spence, and Joseph Stiglitz," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 13(2), pages 103-114.
  • Handle: RePEc:tcb:cebare:v:13:y:2013:i:2:p:103-114

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    More about this item


    Economic policy; Financial crises; Book review;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F01 - International Economics - - General - - - Global Outlook
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G01 - Financial Economics - - General - - - Financial Crises
    • G20 - Financial Economics - - Financial Institutions and Services - - - General


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