Overview
- Examines the consequences of the global financial crisis on the world economy and discusses the resulting macroeconomic policy implications
- Investigates growth and inflation drivers extensively
- Studies the role of the central banks
- Goes beyond macroeconomic factors by including the financial sector
Part of the book series: Financial and Monetary Policy Studies (FMPS, volume 46)
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Table of contents (14 chapters)
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Front Matter
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Global Growth Slowdown: Supply-Side Factors
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Front Matter
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Global Growth Slowdown: Demand-Side Explanations
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Front Matter
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New Challenges for Monetary Policies at a Time of High Uncertainty, Low Inflation and Low Real Interest Rates
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Front Matter
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Exchange Rate Shocks, Capital Flows and International Spillovers
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Front Matter
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Keywords
About this book
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.
Editors and Affiliations
About the editors
Ignacio Hernando has been head of the International Economics Division at Banco de España since 2010. He received his B.A. in Economics at Universidad Complutense de Madrid, an M.A. in Monetary Economics at CEMFI, and a PhD in Economics at UNED. He is a member of the International Relations Committee of the European System of Central Banks. His main research interests are international macroeconomics and monetary policy.
Daniela Marconiis a senior advisor at Banca d’Italia. Since 2002, she has worked in the International Relations and Economics Directorate, conducting macroeconomic analysis and research on emerging markets. She holds an M.A. in Economics from CORIPE Piemonte (Turin, Italy) and an M.A. in Economics from Duke University (NC, USA). Her main academic interests are international macroeconomics, technological advances, economic growth and environmental economics. She has authored numerous papers and articles in these areas.
Bibliographic Information
Book Title: International Macroeconomics in the Wake of the Global Financial Crisis
Editors: Laurent Ferrara, Ignacio Hernando, Daniela Marconi
Series Title: Financial and Monetary Policy Studies
DOI: https://doi.org/10.1007/978-3-319-79075-6
Publisher: Springer Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Springer International Publishing AG, part of Springer Nature 2018
Hardcover ISBN: 978-3-319-79074-9Published: 25 June 2018
Softcover ISBN: 978-3-030-07720-4Published: 14 December 2018
eBook ISBN: 978-3-319-79075-6Published: 13 June 2018
Series ISSN: 0921-8580
Series E-ISSN: 2197-1889
Edition Number: 1
Number of Pages: XIV, 298
Number of Illustrations: 74 b/w illustrations, 19 illustrations in colour
Topics: Macroeconomics/Monetary Economics//Financial Economics, Financial Crises, International Economics, Economic Growth, Capital Markets
Industry Sectors: Finance, Business & Banking