Stiglitz brings together this edited collection that presents a series of studies on contemporary macroeconomic issues and contains a set of key lessons for macroeconomic theory and policies from the recent global financial crisis

Iceland became one of the symbols of the global financial crisis. It provides an ideal test case for the perceptions of economists, in particular their ability to anticipate crises. The book contains papers and reports, written prior to the collapse of Iceland's financial system, about the...