Introduction

Franklin Allen, Masahiko Aoki, Jean-Paul Fitoussi, Roger Gordon, Nobuhiro Kiyotaki and Joseph Stiglitz
Additional contact information
Franklin Allen: University of Pennsylvania
Roger Gordon: University of California
Nobuhiro Kiyotaki: Princeton University

A chapter in The Global Macro Economy and Finance, 2012, pp 1-10 from Palgrave Macmillan

Abstract: Abstract In the event of 2007 financial crisis and its prolonged aftermath, it has become increasingly evident that macroeconomic mechanisms and financial institutions, as well as macroeconomic theory and policy relevant to them, are not well tuned to, or in step with, rapidly changing global economic environments. National economies, developed, emerging and developing alike, are ever more closely interconnected through market and financial integration, fast information transmission and human resource mobility, restructuring of the global division of labor, and so on. Macroeconomics, as well as financial economics, appear urged to re-examine, and possibly re-orient, its accepted premises, research foci, analytical method, and even underlying philosophy, in order to understand the nature of problems that the global economy is facing, improve on economic policy and prudent regulations, and reform global and national economic institutions. Understandably, meeting this challenge would be hardly easy because of the complexity of the issues involved.

Keywords: Systemic Risk; Credit Spread; Foreign Subsidiary; General Partner; Private Equity Fund (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-03425-0_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137034250

DOI: 10.1057/9781137034250_1

Access Statistics for this chapter

More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().