| Description |
xxviii, 537 pages ; 23 cm. |
| Series |
Symposium series / Federal Reserve Bank of Kansas City ; 2021. |
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Symposium series (Federal Reserve Bank of Kansas City) ; 2021.
|
| Bibliography |
Includes bibliographical references. |
| Contents |
The contributors -- Introduction / Joseph Gruber -- The moderators / Janice C. Eberly, Lisa D. Cook -- Welcoming remarks / Esther L. George -- Opening remarks / Jerome H. Powell -- Monetary policy in times of structural reallocation / Veronica Guerrieri -- Commentary / Jing Cynthia Wu -- General discussion -- Fiscal policy in the age of COVID: does it 'get in all of the cracks?' / Pierre-Olivier Gourinchas -- Commentary / Valierie A. Ramey -- General discussion -- Panel: The interaction of fiscal and monetary policy / Alan S. Blinder, Gita Gopinath, Eric M. Leeper -- General discussion -- Building a more stable financial system: unfinished business / Donald Kohn -- General discussion -- Maximum employment and the participation cycle / Ayşegül Şahin -- Commentary / Betsey Stevenson -- General discussion -- What Explains the Decline in r*?: rising income inequality versus demographic shifts / Amir Sufi -- Commentary / Fatih Guvenen -- General discussion -- Monetary policy in an uneven economy / Markus Brunnermeier, Kristin J. Forbes, Maurice Obstfeld -- The participants. |
| Summary |
"A notable feature of the economic shock emanating from the COVID-19 pandemic has been its unevenness. Certain industries, job classes and geographies were hit harder by the pandemic and the associated pull back in economic activity than others. At the same time, the massive policy response to the shock, both fiscal and monetary, was broadly targeted, resulting in some sectors doing extraordinarily well even as others have struggled. The pandemic shock, with its disparate impact, comes in the context of an economy that was already experiencing growing wealth inequality and market concentration. In this sense, the pandemic has only amplified questions of how policy, and particularly monetary policy, with its broad-based rather than sector-specific tools, should respond to wide divergences in economic outcomes across sectors and populations. Are there mechanisms through which monetary policy could or should address disparate economic conditions? To contribute to the discussion around these issues, the Federal Reserve Bank of Kansas City sponsored a virtual symposium titled "Macroeconomic Policy in an Uneven Economy" on Aug. 27, 2021. "--Introduction. |
| Subject |
Macroeconomics -- Congresses.
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Economic policy -- Congresses.
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Financial crises -- Government policy -- Congresses.
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Financial institutions -- Law and legislation -- Congresses.
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International finance -- Law and legislation -- Congresses.
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COVID-19 Pandemic, 2020- -- Economic aspects -- Congresses.
|
| Added Author |
Babson, Richard A., editor.
|
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Schneider, Beth Norman, editor.
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Federal Reserve Bank of Kansas City, issuing body.
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