New Challenges for Macroeconomic Policies

This book examines the economic policies that will underpin the evolution of growth in industrialised economies in coming decades. The change in focus of policymakers away from short-term regulation and policies towards problems of structural change is discussed in relation to the Taylor rule and Fisher relationship. Both empirical observations and quantitative analyses are utilised to explore diverse but interrelating topics, including interest rates dynamics, macroeconomic equilibrium, economic vulnerability, poverty and inequality, environmental sustainability, and monetary and fiscal policies.

This book aims to propose policies that can produce economic growth without compromising social stability and environmental balances. It will be of interest to researchers and policymakers working within economic development and policy.

Explores the new ideas and concepts that are defining the changing approaches in economic policy Investigates new approaches to medium term potential growth Examines the fiscal and monetary policy challenges seen since the 2008 financial crisis

Auteur

Gilles Dufrénot is Professor of Economics at Sciences Po Aix and member of the Aix-Marseille School of Economics, France. He has also been a policy advisor to the WAEMU Commission and consultant for the Bank of France, IMF and the European Union. He is also associate researcher at CEPII.

Contenu

1. Introduction.- Part I Growth, macroeconomic imbalances and sustainable development.- 2. Is there any evidence of a deterioration of production capacities in the advanced economies?.- 3. Hysteresis, inflation and secular stagnation.- 4. New thinking of sustainable development and growth.- Part II Financial, monetary and fiscal policies. 5. Interest rates, financial markets and macroeconomics.- 6. New challenges for monetary policy.- 7. Fiscal policy issues.- 8. Beyond mainstream macroeconomic.- 9. Conclusion. <p