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International Macroeconomics in the Wake of the Global Financial Crisis (Hardcover, 1st ed. 2018)
Loot Price: R4,983
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International Macroeconomics in the Wake of the Global Financial Crisis (Hardcover, 1st ed. 2018)
Series: Financial and Monetary Policy Studies, 46
Expected to ship within 10 - 15 working days
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This book collects selected articles addressing several currently
debated issues in the field of international macroeconomics. They
focus on the role of the central banks in the debate on how to come
to terms with the long-term decline in productivity growth,
insufficient aggregate demand, high economic uncertainty and
growing inequalities following the global financial crisis. Central
banks are of considerable importance in this debate since
understanding the sluggishness of the recovery process as well as
its implications for the natural interest rate are key to assessing
output gaps and the monetary policy stance. The authors argue that
a more dynamic domestic and external aggregate demand helps to
raise the inflation rate, easing the constraint deriving from the
zero lower bound and allowing monetary policy to depart from its
current ultra-accommodative position. Beyond macroeconomic factors,
the book also discusses a supportive financial environment as a
precondition for the rebound of global economic activity, stressing
that understanding capital flows is a prerequisite for
economic-policy decisions.
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