Title Macroeconomic management when policy space is constrained : a comprehensive, consistent and coordinated approach to economic policy / by Vitor Gaspar, Maurice Obstfeld, and Ratna Sahay ; other authors: Douglas Laxton (Team leader), Dennis Botman, Kevin Clinton, Romain Duval, Kotaro Ishi, Zoltan Jakab, Laura Jaramillo Mayor, Constant Lonkeng Ngouana, Tommaso Mancini Griffoli, Joannes mongardini, Susanna Mursula, Erlend Nier, Yulia Usyugova, Hou Wang, and Oliver Wuensch

Published [Washington, D.C.] : International Monetary Fund, [2016] ©2016

Click on the following:
IMF eLibrary

Copies

Description 1 online resource (43 pages): color illustrations Series IMF staff discussion note ; SDN/16/09 IMF staff discussion note ; SDN/16/09. Summary The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or deal with the next negative shock. This note argues that room exists for effective policies and that it should be used if appropriate. The most promising route involves a comprehensive, consistent, and coordinated approach to policy making. Comprehensive policy actions within a country exploit synergies, making the whole greater than the sum of parts. Consistent policy frameworks anchor long-term expectations while allowing decisive short- to medium-term accommodation whenever necessary. Coordinated policies across major economies amplify the helpful effects of individual policy actions through positive cross-border spillovers. The findings of this paper indicate that policy coordination adds particular value if the current approach falls short of reviving growth, or in the event of a further downward shock Notes "September 2016." Bibliography Includes bibliographical references (pages 28-32) Notes Description based on online resource; title from PDF title page (IMF Web site, viewed September 30, 2016) Subject Economic policy. Fiscal policy. Monetary policy. Gross domestic product. Economic policy Fiscal policy Gross domestic product Monetary policy Form Electronic book Author Obstfeld, Maurice, author, (IMF staff) Sahay, Ratna, author, (IMF staff) Laxton, Douglas, author, (IMF staff) Botman, Dennis (Dennis Petrus Johannes), author, (IMF staff) Clilnton, Kevin, author. Duval, Romain, author, (IMF staff) Ishi, Kotaro, author, (IMF staff) Jakab, Zoltán, author, (IMF staff) Jaramillo, L. (Laura), author, (IMF staff) Lonkeng Ngouana, Constant, author, (IMF staff) Mancini-Griffoli, Tommaso, author, (IMF staff) Mongardini, Joannes, 1970- author, (IMF staff) Mursula, Susanna, author, (IMF staff) Nier, Erlend, author, (IMF staff) Ustyugova, Yulia, author, (IMF staff) Wang, Hou, author, (IMF staff) Wuensch, Oliver, author, (IMF staff) International Monetary Fund, publisher. ISBN 9781475537543 1475537549 9781475537765 147553776X

  Permalink