Recent Issues in Macroeconomics: Post-Financial Crisis
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The recent global financial crisis has been marked by prolonged deep recessions in advanced countries. Academic researchers and policy makers have devoted much of their time and efforts to understand the effective- ness and consequences on emerging countries of non-standard macro- economic policies adopted by advanced countries. The main goal of the annual conference of Seoul Journal of Economics 2014 is to invoke com- prehensive and thorough discussions among academic researchers and policy makers on the recent development in macroeconomics with special emphasis on the role of macro-prudential policies in emerging-market countries. Given that many emerging-market countries have been severely hit by economic crises even in the 1990s and 2000s, central banks in those countries have begun to adopt the so-called macro-prudential policies earlier and more heavily than advanced countries. The goals and targets of macro-prudential policies in emerging-market countries tend to place relatively more weights on issues associated with the controls of capital flows and foreign-exchange markets. The studies presented in this Special Edition Issue discuss and survey the research frontier on this subject.
Abstract
The recent global financial crisis has been marked by prolonged deep recessions in advanced countries. Academic researchers and policy makers have devoted much of their time and efforts to understand the effective- ness and consequences on emerging countries of non-standard macro- economic policies adopted by advanced countries. The main goal of the annual conference of Seoul Journal of Economics 2014 is to invoke com- prehensive and thorough discussions among academic researchers and policy makers on the recent development in macroeconomics with special emphasis on the role of macro-prudential policies in emerging-market countries. Given that many emerging-market countries have been severely hit by economic crises even in the 1990s and 2000s, central banks in those countries have begun to adopt the so-called macro-prudential policies earlier and more heavily than advanced countries. The goals and targets of macro-prudential policies in emerging-market countries tend to place relatively more weights on issues associated with the controls of capital flows and foreign-exchange markets. The studies presented in this Special Edition Issue discuss and survey the research frontier on this subject.