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Financial and Monetary Policy Studies

International Macroeconomics in the Wake of the Global Financial Crisis

Editors: Ferrara, Laurent, Hernando, Ignacio, Marconi, Daniela (Eds.)

  • 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
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eBook 118,99 €
price for France (gross)
  • ISBN 978-3-319-79075-6
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 147,69 €
price for France (gross)
  • ISBN 978-3-319-79074-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

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.

About the authors

Laurent Ferrara is head of the International Macroeconomics Division at the Banque de France and adjunct professor of Economics at the University of Paris Nanterre. He holds a PhD in Applied Mathematics from the University of Paris North (2001) and a postdoctoral  qualification in Economics from the University of Paris 1 – Panthéon – Sorbonne (2007). His academic research mainly focuses on international economics, macroeconomic forecasting, non-linear econometric methods and business cycle analysis.
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 Marconi is 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.

Table of contents (14 chapters)

  • Introduction

    Ferrara, Laurent (et al.)

    Pages 1-13

  • The Productivity Slowdown and the Secular Stagnation Hypothesis

    Pagano, Patrizio (et al.)

    Pages 17-41

  • Growth Potential in Emerging Countries

    Di Stefano, Enrica (et al.)

    Pages 43-57

  • What are the Drivers of TFP Growth? An Empirical Assessment

    Kataryniuk, Iván (et al.)

    Pages 59-72

  • The Unintended Consequences of Globalization and Technological Progress

    Cristadoro, Riccardo

    Pages 73-96

Buy this book

eBook 118,99 €
price for France (gross)
  • ISBN 978-3-319-79075-6
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 147,69 €
price for France (gross)
  • ISBN 978-3-319-79074-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

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
Series Volume
46
Copyright
2018
Publisher
Springer International Publishing
Copyright Holder
Springer International Publishing AG, part of Springer Nature
eBook ISBN
978-3-319-79075-6
DOI
10.1007/978-3-319-79075-6
Hardcover ISBN
978-3-319-79074-9
Series ISSN
0921-8580
Edition Number
1
Number of Pages
XIV, 298
Number of Illustrations
74 b/w illustrations, 19 illustrations in colour
Topics