Macro-Policy Issue: Dealing With an Economic Downturn
Working Paper #19
This paper sets forth a set of policies which are an alternative to the standard IMF prescriptions. It delineates the circumstances under which such policies could be easily implemented, outlines the risks, and provides a framework for thinking through how these risks can be assessed relative to the risks of the standard IMF strategies.
About the Author
Initiative for Policy Dialogue (IPD)
Joseph E. Stiglitz is co-President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.