Contemporary Issues in Macroeconomics

List of Figures<BR>List of Tables<BR>Foreword<BR>Notes on Contributors<BR>Presidential Address <BR>Introduction; Joseph E. Stiglitz<BR>Towards a General Theory of Deep Downturns<BR>Keynote addresses by Central Bank Governors<BR>1. The Practice and Theory of Unconventional Monetary Policy; Haruhiko Kuroda, Governor of the Central Bank of Japan<BR>2. Monetary Policy in a Constrained Environment; Ziad Fariz, Governor of the Central Bank of Jordan<BR>PART I: MACROECONOMIC THEORY FOR UNDERSTANDING FLUCTUATIONS AND CRISES&nbsp;<BR>3. A Theory of Pseudo-Wealth; Martin Guzman and Joseph E. Stiglitz<BR>4.&nbsp;Great Recession and Beyond: Revisiting the Pillars of Economic Thought; A. Erinc Yeldan<BR>5.&nbsp;Is Financial Stability Possible in the Current International System?; James M. Boughton<BR>6.&nbsp;Learning, Expectations, and the Financial Instability Hypothesis; Martin Guzman and Peter Howitt<BR>PART II: MACROECONOMIC POLICIES IN UNSTABLE TIMES<BR>7.&nbsp;The Short-and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter; Giovanni Dosi, Mauro Napoletano, Andrea Roventini, and Tania Treibich<BR>8. Structural Divergence and Crisis in the Eurozone: The Role of NAIRU Economics; Servaas Storm and C.W.M. Naastepad<BR>9.&nbsp;Managing the Exchange Rate in the Face of Volatile Capital Flows; Jonathan D. Ostry<BR>10.&nbsp;Achieving Coherence Between Macroeconomic and Development Objectives; Gerald Epstein<BR>PART III: CENTRAL BANKING AND MONETARY POLICY<BR>11.&nbsp;Re-imagining Central Banking; Perry Mehrling&nbsp;<BR>12. Taking Banks to Solow; Hans Gersbach, Jean-Charles Rochet, and Martin Scheffel<BR>Index<BR>