The international financial crisis : its nature and the economic policy challenges
Machinea, José Luis
The international financial crisis : its nature and the economic policy challenges - 2009
Discusses the origins of the international financial crisis, emphasizing the instability of the financial system as a leading cause. Argues that the function of controlling excessive asset price rises is one for regulatory policy, rather than interest rates. Analyzes the effects of the international crisis on the current accounts of the region's countries and the difficulty of applying countercyclical policies in the absence of a global lender.
The international financial crisis : its nature and the economic policy challenges - 2009
Discusses the origins of the international financial crisis, emphasizing the instability of the financial system as a leading cause. Argues that the function of controlling excessive asset price rises is one for regulatory policy, rather than interest rates. Analyzes the effects of the international crisis on the current accounts of the region's countries and the difficulty of applying countercyclical policies in the absence of a global lender.