Macroeconomic Policy after the Crash

Richard Barwell is an economist at BNP Paribas Investment Partners in London. Prior to that, he worked at the Royal Bank of Scotland (RBS), having earlier spent almost a decade at the Bank of England, working on issues of monetary and financial stability. He has a PhD from the London School of Economics, UK, and is the author of Macroprudential Policy: Taming the wild gyrations of credit flows, debt stocks and asset prices (Palgrave Macmillan, 2013).

• Part 1) Monetary Policy.- Chapter 1) The Lower Bound: the zero and beyond.- Chapter 2) Quantitative Easing: bond buying to the rescue.- Chapter 3) Deflation: the dog that didn’t bark.- Chapter 4) The Productivity Puzzle.- Chapter 5) Loose Talk: guiding interest rate expectations lower.- Chapter 6) Importing Disinflation.- Chapter 7) Low For Much, Much Longer: postponing lift-off from the lower bound.- Part 2) Fiscal Policy.- Chapter 1) Fiscal Arithmetic.- Chapter 2) Objectives.- Chapter 3) The Fiscal Multiplier.- Chapter 4) Monetary Dominance.- Chapter 5) When Bond Markets Attack.- Chapter 6) Repair, Restructure, Repress or Reach for the Printing Press.- Chapter 7) The Institutions of Fiscal Policy.