No Way Out?

… culminates more than a year of conversations with academics, policymakers, and financial market leaders to illuminate previously unexamined elements of the 2007-08 financial crisis. In the book, players in financial markets explore the mismatched market incentives and government policies that precipitated the crisis. Among these analyses: former Federal Reserve governor and Columbia Business School Professor Frederic Mishkin provides a vision for an improved postcrisis Fed, and Ethan Ilzetzki of the London School of Economics and his coauthors assess the often-underwhelming impact of fiscal stimuli. As a whole, the volume provides a narrative of the financial crisis, its causes, and likely recurrences. Editor Vincent R. Reinhart brings together an array of professional and academic authors to generate this narrative. The story demonstrates that government can do better, but only if it follows historical evidence, not popular opinion, to respond to financial crises.
–Provided by publisher.