The Great Recession: Lessons for Central Bankers - Softcover

Softcover

ISBN 10: 0262526735 ISBN 13: 9780262526739

Publisher: Mit Pr, 2014

Synopsis

Experts assess the role of central banks in responding to the recent financial crisis and in preventing future crises.

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, central bankers from around the world, 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.

About this title

About the Author:

Jacob Braude works in the Bank of Israel Research Department. Zvi Eckstein is Dean of the School of Economics in the Interdisciplinary Center Herzliya and served as Deputy Governor of the Bank of Israel from 2006 to 2011.

About this edition

• Publisher: Mit Pr
• Publication date: 2014
• ISBN 10: 0262526735
• ISBN 13: 9780262526739
• Binding: Paperback
• Number of pages: 380
• Editor: Braude Jacob, Eckstein Zvi, Fischer Stanley, Flug Karnit