Overview

In response to the ongoing financial crisis, the U.S. government has significantly expanded its role in economy, resulting in new legislation and both public and private policy overhauls. But these hasty efforts to buoy the economy may ultimately do more harm than good. In No Way Out?, Vincent R. Reinhart and his coauthors provide a concise narrative of the financial crisis, the mismatched market incentives and government policies that precipitated it, and the likelihood of its recurrence. This volume is an indispensable resource for policymakers and financial leaders and a timely reminder that until we understand the history of government intervention in the marketplace, we are doomed to repeat failed policies.

Full Product Details

Author:   Michael D. Bordo ,  Ethan Ilzetzki ,  Greg Ip ,  Enrique G. Mendoza
Publisher:   AEI Press
Imprint:   AEI Press
Dimensions:   Width: 15.70cm , Height: 2.00cm , Length: 23.50cm
Weight:   0.431kg
ISBN:  

9780844743585

ISBN 10:   0844743585
Pages:   204
Publication Date:   21 February 2013
Audience:   College/higher education ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   No Longer Our Product
Availability:   Awaiting stock  
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Table of Contents

Contents v List of Illustrations vii Preface xi Introduction 1 Vincent R. Reinhart Part I: Markets React 1. An Alliance of Convenience 45 Christopher Whalen 2. Paradigm Lost: A Discussion of “No Way Out” 53 Angel Ubide 3. Contagion, Culture, and Shadow Banks: Why Some Countries Had Crises and Others Did Not 59 Greg Ip Part II: Financial Experts Respond 4. The Federal Reserve after the Crisis 69 Frederic S. Mishkin 5. Determinants of the Size of Fiscal Multipliers in Open Economies 81 Ethan Ilzetzki, Enrique G. Mendoza, and Carlos A. Végh 6. Exit Strategies and the Federal Reserve 98 Ricardo Reis 7. Exits from Recessions: The US Experience, 1920-2007 117 Michael D. Bordo and John Landon-Lane 8. Global Imbalances: The Crisis That Did Not Occur . . . Yet 163 Francis E. Warnock About the Authors 181

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Author Information

Vincent R. Reinhart is a managing director and chief US economist at Morgan Stanley and former director of the Federal Reserve Board's Division of Monetary Affairs.

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