Counter-cyclical Economic Policy:
What changes are needed to make counter-cyclical economic policy more effective in the aftermath of the recent crisis? An important lesson from the severity of the recent recession is that policy in various areas will have to be more prudent during upswings and to build in greater safety margins to...
Gespeichert in:
| 1. Verfasser: | |
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2010
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| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | What changes are needed to make counter-cyclical economic policy more effective in the aftermath of the recent crisis? An important lesson from the severity of the recent recession is that policy in various areas will have to be more prudent during upswings and to build in greater safety margins to be able to react to large adverse shocks. In the period leading up to the crisis, cycles became more synchronised, while asset prices became more volatile. Recent events also underline the difficulties encountered in detecting and reacting to asset price misalignments. The confluence of the turn in asset prices, financial market crisis and slump in trade challenged the ability of counter-cyclical policies to cope with the severe downturn, although experience reveals that countries where the fiscal position was sound and inflation under control were better able to cushion the shocks. Furthermore, robust micro-prudential regulation can help the financial sector withstand shocks. In this light, existing policies should be strengthened to ensure that there is room for manoeuvre going into a downturn. In order to deal with similar shocks in the future, macroeconomic and financial sector policies should consider precautionary policy settings and macro-prudential regulation to address systemic threats to stability |
| Beschreibung: | 1 Online-Ressource (102 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5kmfw36tj97h-en |
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Datensatz im Suchindex
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| index_date | 2024-07-03T19:35:00Z |
| indexdate | 2024-12-18T19:03:36Z |
| institution | BVB |
| language | English |
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| physical | 1 Online-Ressource (102 Seiten) 21 x 29.7cm |
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| publishDate | 2010 |
| publishDateSearch | 2010 |
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| publisher | OECD Publishing |
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| series2 | OECD Economics Department Working Papers |
| spelling | Sutherland, Douglas Verfasser aut Counter-cyclical Economic Policy Douglas Sutherland ... [et al] = Politique économique contracyclique / Douglas Sutherland ... [et al] Politique économique contracyclique Paris OECD Publishing 2010 1 Online-Ressource (102 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers What changes are needed to make counter-cyclical economic policy more effective in the aftermath of the recent crisis? An important lesson from the severity of the recent recession is that policy in various areas will have to be more prudent during upswings and to build in greater safety margins to be able to react to large adverse shocks. In the period leading up to the crisis, cycles became more synchronised, while asset prices became more volatile. Recent events also underline the difficulties encountered in detecting and reacting to asset price misalignments. The confluence of the turn in asset prices, financial market crisis and slump in trade challenged the ability of counter-cyclical policies to cope with the severe downturn, although experience reveals that countries where the fiscal position was sound and inflation under control were better able to cushion the shocks. Furthermore, robust micro-prudential regulation can help the financial sector withstand shocks. In this light, existing policies should be strengthened to ensure that there is room for manoeuvre going into a downturn. In order to deal with similar shocks in the future, macroeconomic and financial sector policies should consider precautionary policy settings and macro-prudential regulation to address systemic threats to stability Economics Hoeller, Peter ctb Égert, Balázs ctb Röhn, Oliver ctb https://doi.org/10.1787/5kmfw36tj97h-en Verlag kostenfrei Volltext |
| spellingShingle | Sutherland, Douglas Counter-cyclical Economic Policy Economics |
| title | Counter-cyclical Economic Policy |
| title_alt | Politique économique contracyclique |
| title_auth | Counter-cyclical Economic Policy |
| title_exact_search | Counter-cyclical Economic Policy |
| title_exact_search_txtP | Counter-cyclical Economic Policy |
| title_full | Counter-cyclical Economic Policy Douglas Sutherland ... [et al] = Politique économique contracyclique / Douglas Sutherland ... [et al] |
| title_fullStr | Counter-cyclical Economic Policy Douglas Sutherland ... [et al] = Politique économique contracyclique / Douglas Sutherland ... [et al] |
| title_full_unstemmed | Counter-cyclical Economic Policy Douglas Sutherland ... [et al] = Politique économique contracyclique / Douglas Sutherland ... [et al] |
| title_short | Counter-cyclical Economic Policy |
| title_sort | counter cyclical economic policy |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kmfw36tj97h-en |
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