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Hardcover | $25.00 Short | £19.95 | 256 pp. | 6 x 9 in | 1 b&w illus, 35 figures, 4 tables | February 2012 | ISBN: 9780262017619
Paperback | $13.95 Trade | £11.95 | 256 pp. | 6 x 9 in | 1 b&w illus, 35 figures, 4 tables | August 2014 | ISBN: 9780262526821
eBook | $10.95 Trade | February 2012 | ISBN: 9780262302630
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In the Wake of the Crisis

Leading Economists Reassess Economic Policy


In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment.

The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices.

Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner

About the Editors

Olivier Blanchard is C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics, Washington, D.C.

David Romer is Herman Royer Professor of Political Economy at the University of California, Berkeley.

Michael Spence, co-recipient of the 2001 Nobel Prize in Economics, is Professor Emeritus of Management at Stanford University’s Graduate School of Business and Professor of Economics at New York University’s Stern School of Business. He served as Chairman of the Commission on Growth and Development from 2006 to 2010 (the life of the commission). He is the author of The Next Convergence: The Future of Economic Growth in a Multispeed World.

Joseph Stiglitz, a 2001 Nobel Laureate, is University Professor at Columbia University.


“This collection of specialized papers, written by well-known scholars in their fields of macroeconomics, does an excellent job of not only explaining the financial crisis but also answering some of the concerns that policy makers have raised regarding the effectiveness of both monetary and fiscal policy.”—R.M.Ramazani, Choice