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Paradox of Risk : Leaving the Monetary Policy Comfort Zone - by u00c1ngel Ubide (Paperback)

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For decades, economic policymakers have worshipped at the altar of combating inflation, reducing public deficits, and discouraging risky behavior by investors. That mindset made them hesitate when the global financial crisis erupted in 2007–08. In the face of the worst economic disaster in 75 years, they often worried excessively about the risks and possible losses from their actions, rather than moving forcefully to support financial institutions, governments and people. Ángel Ubide’s provocative thesis in The Paradox of Risk is that central banks’ fear of inflation and risk taking has hampered their efforts to revive global prosperity. In their confusion, he argues, policymakers made the recovery weaker. He calls on world leaders to abandon old shibboleths and learn the lessons from the financial crisis and its sluggish aftermath. Ubide mobilizes a wealth of research on the experience from the last decade, urging policymakers to leave their "comfort zone," embrace risk taking, and take bolder action to brighten the world’s economic prospects.
Number of Pages: 298
Genre: Business + Money Management, Political Science
Series Title: Policy Analyses in International Economics
Format: Paperback
Publisher: Columbia Univ Pr
Author: U00c1ngel Ubide
Language: English
Street Date: September 7, 2017
TCIN: 51756738
UPC: 9780881327199
Item Number (DPCI): 248-31-8922
$23.95

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