No Way Out?
Government Intervention and the Financial Crisis
AEI Press
Will be published approx. on 21. February 2013
Book
Hardback
204 pages
978-0-8447-4358-5 (ISBN)
Description
In response to the ongoing financial crisis, the U.S. government has significantly expanded its role in economy, resulting in new legislation and both public and private policy overhauls. But these hasty efforts to buoy the economy may ultimately do more harm than good. In No Way Out?, Vincent R. Reinhart and his coauthors provide a concise narrative of the financial crisis, the mismatched market incentives and government policies that precipitated it, and the likelihood of its recurrence. This volume is an indispensable resource for policymakers and financial leaders and a timely reminder that until we understand the history of government intervention in the marketplace, we are doomed to repeat failed policies.
More details
Language
English
Place of publication
Washington DC
United States
Target group
College/higher education
Illustrations
Illustrations; Graphs; Tables
Dimensions
Height: 235 mm
Width: 157 mm
Thickness: 17 mm
Weight
486 gr
ISBN-13
978-0-8447-4358-5 (9780844743585)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Persons
Vincent R. Reinhart is a managing director and chief US economist at Morgan Stanley and former director of the Federal Reserve Board's Division of Monetary Affairs.
Content
Contents
v
List of Illustrations vii
Preface xi
Introduction 1
Vincent R. Reinhart
Part I: Markets React
1. An Alliance of Convenience 45
Christopher Whalen
2. Paradigm Lost: A Discussion of "No Way Out" 53
Angel Ubide
3. Contagion, Culture, and Shadow Banks:
Why Some Countries Had Crises and Others Did Not 59
Greg Ip
Part II: Financial Experts Respond
4. The Federal Reserve after the Crisis 69
Frederic S. Mishkin
5. Determinants of the Size of Fiscal Multipliers
in Open Economies 81
Ethan Ilzetzki, Enrique G. Mendoza, and Carlos A. Vegh
6. Exit Strategies and the Federal Reserve 98
Ricardo Reis
7. Exits from Recessions: The US Experience, 1920-2007 117
Michael D. Bordo and John Landon-Lane
8. Global Imbalances: The Crisis That Did Not Occur . . . Yet 163
Francis E. Warnock
About the Authors 181
v
List of Illustrations vii
Preface xi
Introduction 1
Vincent R. Reinhart
Part I: Markets React
1. An Alliance of Convenience 45
Christopher Whalen
2. Paradigm Lost: A Discussion of "No Way Out" 53
Angel Ubide
3. Contagion, Culture, and Shadow Banks:
Why Some Countries Had Crises and Others Did Not 59
Greg Ip
Part II: Financial Experts Respond
4. The Federal Reserve after the Crisis 69
Frederic S. Mishkin
5. Determinants of the Size of Fiscal Multipliers
in Open Economies 81
Ethan Ilzetzki, Enrique G. Mendoza, and Carlos A. Vegh
6. Exit Strategies and the Federal Reserve 98
Ricardo Reis
7. Exits from Recessions: The US Experience, 1920-2007 117
Michael D. Bordo and John Landon-Lane
8. Global Imbalances: The Crisis That Did Not Occur . . . Yet 163
Francis E. Warnock
About the Authors 181