How generational policy affects the sustainability of a government's fiscal policy.In these eight 2002 Cairoli Lectures, presented at the Universidad Torcuato di Tella in Buenos Aires, Argentina, Laurence Kotlikoff shows how generational policy works, how it is measured, and how much it matters. Kotlikoff discusses the incidence and measurement of generational policy, the relationship of genera…
Despite significant gains in promoting economic growth and living conditions (or "human progress") globally over the last twenty-five years, much of the developing world remains plagued by poverty and its attendant problems, including high rates of child mortality, illiteracy, environmental degradation, and war. In Growth and Empowerment, Nicholas Stern, Jean-Jacques Dethier, and F. Halsey Roge…
The global economic crisis of 2008-2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic cha…
Since 2008, economic policymakers and researchers have occupied a brave new economic world. Previous consensuses have been upended, former assumptions have been cast into doubt, and new approaches have yet to stand the test of time. Policymakers have been forced to improvise and researchers to rethink basic theory. George Akerlof, Nobel Laureate and one of this volume's editors, compares the cr…
Annotation The determinants of economic growth and development are hotly debated among economists. Financial crises and failed transition experiments have highlighted the fact that functioning institutions are fundamental to the goal of achieving economic growth. The growth literature has seen an abundance of empirical studies on the influence of institutions and the mechanisms by which institu…
Offering a framework for understanding the reasons for the regulatory shift from a microprudential to a macroprudential approach to financial regulation, this book provides a list of challenges in the implementation of macroprudential policy and a discussion on its limitations. --OCLC-licensed vendor bibliographic record.
The three major themes of János Kornai's work reflected in the title of this book—planning, shortage, and transition, or transformation—figure prominently in the essays. The three major themes of János Kornai's work reflected in the title of this book—planning, shortage, and transition, or transformation—figure prominently in the essays. After a philosophical introduction by Edmond…
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Leading economists consider the shape and future of economic policy: Will it resume the pre-crisis consensus or contend with the post-crisis "new normal"? Have we made progress with addressing the major issues or does confusion remain in today's economic environment? Chapters address topics that range from the measurement of systemic risk to foreign exchange intervention.OCLC-licensed vendor bi…
Theoretically and empirically informed studies on the role and efficiency of the public sector, public wage and employment policy, privatization, tax policy, and fiscal sustainability.OCLC-licensed vendor bibliographic record.