Macroeconomic Policy after the Global Financial Crisis

This chapter describes the ideology of market liberalism, the macroeconomic policies and institutions it produced, and the failure of those policies and institutions that produced the GFC and the subsequent deep recession in most developed countries. Although it is impossible to prescribe a fully-developed alternative policy framework at this point, new directions in macroeconomic policy are sketched out, including countercyclical fiscal policy, the need for an increase in public sector revenue and expenditure, and new approaches to monetary policy and financial regulation.


Issue Date:
2013-09
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/156935
Total Pages:
24
JEL Codes:
G28; E6
Series Statement:
Australian Public Policy Program
P13_3




 Record created 2017-04-01, last modified 2017-08-27

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