
The Great Recession
Lessons for Central Bankers
MIT Press
Published on 29. August 2014
Book
Paperback/Softback
392 pages
978-0-262-52673-9 (ISBN)
Description
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.
More details
Series
Language
English
Place of publication
Cambridge, Mass.
United States
Publishing group
MIT Press Ltd
Target group
Professional and scholarly
Interest Age: From 18 years
Product notice
Paperback (trade)
Illustrations
156 figures, 13 tables
Dimensions
Height: 229 mm
Width: 152 mm
Thickness: 16 mm
ISBN-13
978-0-262-52673-9 (9780262526739)
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Schweitzer Classification
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Book
12/2012
MIT Press
€30.89
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Persons
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. Stanley Fischer is former Governor of the Bank of Israel and has been nominated as Vice Chair of the Federal Reserve]. He is the author of IMF Essays from a Time of Crisis: The International Financial System, Stabilization, and Development (MIT Press). Karnit Flug is Governor of the Bank of Israel. She previously served as Deputy Governor of the Bank of Israel and Director of the Bank of Israel's Research Department (2001-2011).
Editor
The Mario Henrique Simonson Chair in Labor EconomicsTel Aviv University
Bank of Israel