Crises of Governments by Robert J Barro

Crises of Governments by Robert J Barro

In this short book, Robert Barro, one of the world's leading economists, examines the causes and consequences of the financial crash. In particular, he looks at the effects of fiscal stimulus packages and suggests that, whilst they may lead to an immediate positive impact on growth, the effect will quickly wear off and the effect of the so-called stimulus packages will then be negative. These are important observations given the pressure that Western governments are under to increase government borrowing in the face of slowing growth rates. The author moves on to discuss what he believes will be the next crisis - a crisis of government indebtedness. This publication is based on a lecture given in July 2011 and such a crisis has, indeed, unfolded. However, Professor Barro expects that this crisis will not be confined to the Eurozone. For example, US states are failing to deal with the problems of both explicit debt and future pensions and social insurance obligations. The author concludes with suggestions as to how governments should deal with these growing problems. This publication should be of interest to all who want to understand the wider economic implications of the financial crisis and the policy response to that crisis.

ROBERT J.BARRO is a Research Associate at the National Bureau of Economic Research and a Professor of Economics at Harvard University. He is also a Wall Street Journal contributing editor. Modern Business Cycle Theory, Money, Expectations, and Business Cycles, and Macroeconomic Policy are among his prior works. He has a doctorate in economics from Harvard University and a BS in physics from the California Institute of Technology, and he has published widely in professional journals. He has served as an officer of the American Economic Association and is a fellow of the American Academy of Arts and Sciences and the Econometric Society.

VITTORIO GRILLI is the Woolwich Professor of Financial Economics at the University of London's Birkbeck College. He graduated from Milan's Università Bocconi and the University of Rochester in New York. He is a Research Associate at the National Bureau of Economic Research in Cambridge, Massachusetts, and a Research Fellow at the Centre for Economic Policy Research in London. He is an Associate Editor of the Journal of International Economics and has published substantially in professional journals.

He currently works as a senior adviser for the Italian Treasury Ministry.

SKU	Unavailable
ISBN 13	9780255366571
ISBN 10	0255366574
Title	Crises of Governments
Author	Robert J Barro
Condition	Unavailable
Binding Type	Paperback
Publisher	Institute of Economic Affairs
Year published	2011-11-21
Number of pages	64
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.