Central Banks And Financial Markets The Declining Power Of Us Monetary Policy
'Hasan Cömert's timely book reaches us during the prolonged conditions of the global great recession. By providing a thorough and detailed econometric analysis of the institutional and historical developments of the hegemonic leader of capitalism, Cömert reveals that the simplistic monetary policy tools of the central banks of the so-called 'modern great moderation' era are over, and we are now at the crossroads of a paradigmatic shift.
In the wake of the financial crisis of 2008, there has been increasing debate over the appropriate role of central banks in mitigating economic disaster. This volume combines detailed historical and econometric analyses to explore the profound changes that occurred within the US financial system from the 1980s to the present, and shows how these changes have affected the US economy.