This book reviews the key policy debates during the post-crash era,
describing the issues that policymakers grappled with, the
decisions that they took and the details of the policy instruments
that were created. Focusing specifically on issues in monetary and
fiscal policy, chapters demonstrate that very little that was done
during this period conformed to the simple textbook treatment of
macroeconomic policy: central banks cutting policy rates or finance
ministers cutting the rate of income tax. The author guides the
reader through the revolution in the conduct of macroeconomic
policy in an engaging and approachable manner, and illuminates the
key innovations in the toolkit and themes in the debate over past
years with great detail, from negative rates to quantitative
easing, and from austerity versus financial repression,
restructuring and default to productivity puzzles and deflation.
General
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