International Economic Association

List of Figures List of Tables Foreword Notes on Contributors Presidential Address Introduction; Joseph E. Stiglitz Towards a General Theory of Deep Downturns Keynote addresses by Central Bank Governors 1. The Practice and Theory of Unconventional Monetary Policy; Haruhiko Kuroda, Governor of the Central Bank of Japan 2. Monetary Policy in a Constrained Environment; Ziad Fariz, Governor of the Central Bank of Jordan PART I: MACROECONOMIC THEORY FOR UNDERSTANDING FLUCTUATIONS AND CRISES 3. A Theory of Pseudo-Wealth; Martin Guzman and Joseph E. Stiglitz 4. Great Recession and Beyond: Revisiting the Pillars of Economic Thought; A. Erinc Yeldan 5. Is Financial Stability Possible in the Current International System?; James M. Boughton 6. Learning, Expectations, and the Financial Instability Hypothesis; Martin Guzman and Peter Howitt PART II: MACROECONOMIC POLICIES IN UNSTABLE TIMES 7. The Short-and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter; Giovanni Dosi, Mauro Napoletano, Andrea Roventini, and Tania Treibich 8. Structural Divergence and Crisis in the Eurozone: The Role of NAIRU Economics; Servaas Storm and C.W.M. Naastepad 9. Managing the Exchange Rate in the Face of Volatile Capital Flows; Jonathan D. Ostry 10. Achieving Coherence Between Macroeconomic and Development Objectives; Gerald Epstein PART III: CENTRAL BANKING AND MONETARY POLICY 11. Re-imagining Central Banking; Perry Mehrling 12. Taking Banks to Solow; Hans Gersbach, Jean-Charles Rochet, and Martin Scheffel Index