Achieving Coherence Between Macroeconomic and Development Objectives

Gerald Epstein
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Gerald Epstein: University of Massachusetts Amherst

Chapter 11 in Contemporary Issues in Macroeconomics, 2016, pp 148-159 from Palgrave Macmillan

Abstract: Abstract In the aftermath of the Great Financial Crisis of 2007–2008, the United States and Europe are stuck in a state of political paralysis that is leading to a new norm of fiscal austerity, high unemployment, and, in the case of Europe, economic stagnation. With fiscal policy orientated around austerity it is the central banks—the Federal Reserve (the Fed), the Bank of England (BOE) and the European Central Bank (ECB)—that remain the only macroeconomic authorities with the authority and political power to try to revive these struggling economies.

Keywords: Monetary Policy; Central Bank; International Monetary Fund; Real Exchange Rate; Federal Reserve (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-52958-9_12

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DOI: 10.1057/9781137529589_12

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