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Books > Social sciences > Politics & government > Central government > Central government policies
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Fiscal and Monetary Policy in the Eurozone - Theoretical Concepts and Empirical Evidence (Hardcover)
Loot Price: R3,043
Discovery Miles 30 430
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Fiscal and Monetary Policy in the Eurozone - Theoretical Concepts and Empirical Evidence (Hardcover)
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Following the 2008 financial crisis, the Eurozone faced a major
challenge to many of its most widely held beliefs around both
short- and long-term economic policy. Contrary to what had been the
received wisdom, it suddenly became clear that financial
institutions can fail, that low interest rates are often unable to
stimulate the economy, that the unemployment gap is still very
large, and that external and internal imbalances are becoming more
entrenched. Such sudden revelations left economists grasping for
answers. Rosaria Rita Canale and Rajmund Mirdala outline the
economic orthodoxies that led to such massive blind spots, and they
shed light on the emerging paradigms that continue to struggle to
offer convincing frameworks that address what happened and what to
do next. They show how dominant economic theories led to a
progressive devaluing of the idea that coordinated economic policy
offers an effective way of maintaining macroeconomic equilibrium,
and they illustrate how the new economic environment calls for a
new role for economic policy, one that allows for a more
maneuverable monetary policy and a more active fiscal policy. What
they ultimately suggest is that this renewed framework of
cooperation among policy instruments would require a general
rethinking of the political equilibria within the Eurozone, as a
stable economic environment cannot be maintained at the expense of
particular countries. For its systematic analyses of the economic
policy framework of the Eurozone, and for the rigor of its
critiques of current ideas about how to move forward, Fiscal and
Monetary Policy in the Eurozone is essential reading for
postgraduate students of economics, and it is of keen interest to
researchers, policymakers, journalists, and financial strategists.
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