In the long aftermath of the acute global financial crisis of
2008/09, the need to get economies back on track and to handle high
levels of public and private debt has created conflicting
objectives. Challenges yet to be mastered are the need to avoid
counterproductive measures of adjustment and the persistent need to
'rebalance' the economy with new sources of growth and
productivity. Hence, there is an urgent requirement for policies to
reverse the decline in public and private investment, and to fuel
innovation.These needs, and the corresponding policy challenges,
are especially prevalent in Europe, in particular Central, Eastern
and South-Eastern Europe. On this issue, this book contributes
important lessons learned from earlier balance sheet recessions. It
also addresses the often overlooked link between macroeconomic
imbalances and economic inequality. A mix of contributions from
academics and policy-makers focus on the interaction between
monetary policy and financial stability, adding regional
perspectives to the resulting dilemmas and trade-offs. This book is
essential reading for the study of economics in emerging economies.
Contributors: T. Beck, M. Belka, S. Chakrabarti, D. Daianu, J.B.
DeLong, N. Fabris, M. Gachter, M. Geiger, F. Glotzl, D. Gros, M.
Holzner, J. in 't Veld, R.C. Koo, R. Kuodis, E. Nowotny, P.
Pontuch, R. Raciborski, L. Reichlin, D. Ritzberger-Grunwald, H.
Schuberth, M. Singer, L.E.O. Svensson, T. van Treeck
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