Since 2008, economic policymakers and researchers have occupied a brave new economic world. Previous consensuses have been upended, former assumptions have been cast into doubt, and new approaches have yet to stand the test of time. Policymakers have been forced to improvise and researchers to...

Contents -- Introduction: Rethinking Macro Policy II-Getting Granular -- I Monetary Policy -- 1 Many Targets, Many Instruments: Where Do We Stand? -- 2 Monetary Policy, the Only Game in Town? -- 3 Monetary Policy during the Crisis: From the Depths to the Heights -- 4 Monetary Policy Targets...

This collection of essays reflects how modern economics has been shaped by Joseph Stiglitz, one of the world's greatest economists. The contributions to this volume, all penned by high-profile authors who have been guided by or collaborated with Stiglitz over the last five decades, span...