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Monetary Policy in the 21st Century Author: Ben Bernanke Publisher: CITIC Press
Monetary Policy in the 21st Century Author: Ben Bernanke Publisher: CITIC Press
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Description
Introduction · · · · · ·
In recent years, the global economic and financial situation has changed dramatically. Against the backdrop of the COVID-19 pandemic, the global economy faces high inflation, a major recession, and even the risk of a new round of financial crisis. How to learn from history, judge the situation, and prevent systemic risks is an important issue facing all countries.
"Monetary Policy in the 21st Century" is a book that provides a comprehensive understanding of the internal operations of the Federal Reserve and monetary policy in the 21st century. The book sorts out the operation and evolution of the Federal Reserve from the early post-war period to the present, as well as the decisions of successive Federal Reserve chairmen, interprets the ever-changing economic and political environment it needs to deal with, summarizes the Federal Reserve's experience and lessons in dealing with previous financial crises, examines current controversies, and thinks forward-lookingly about the future role of the Federal Reserve, as well as the prospects for global monetary policy and policies to maintain financial stability in the 21st century.
About the Author · · · · · ·
Ben Bernanke (Author)
Winner of the 2022 Nobel Prize in Economics.
Macroeconomist, former Chairman of the U.S. Federal Reserve.
Born in 1953, he graduated from Harvard University with honors in economics in 1975 and received a Ph.D. in economics from the Massachusetts Institute of Technology in 1979. He taught at Stanford University from 1979 to 1985, and was a professor of economics and public affairs at Princeton University from 1985 to 2002, and also served as the dean of the economics department. From 1987 to 1996, he served as a visiting scholar at the Federal Reserve Bank of Philadelphia, the Federal Reserve Bank of Boston, and the Federal Reserve Bank of New York.
In 2002, Bernanke was appointed as a member of the Federal Reserve Board by then-US President George W. Bush. In June 2005, he served as Chairman of the US President's Council of Economic Advisers. In February 2006, he succeeded Greenspan as Chairman of the Federal Reserve and served until 2014. During his tenure as Chairman of the Federal Reserve, he participated in responding to the 2008 financial crisis and was elected Person of the Year in 2009 by Time magazine.
His main research areas are monetary policy and macroeconomic history.
He has written works such as "The Courage to Act", "The Essence of Finance", and "Putting Out Fires: The American Financial Crisis and Its Lessons".
Feng Yi (Translator)
General Manager of Strategic Development Department and Vice President of Research Institute of Zheshang Asset Management. Postdoctoral fellow at Zhejiang University and PhD at Central University of Finance and Economics. Published monograph Research on the Relationship between Equity Structure and Board Efficiency, translated Monetary Policy in the 21st Century, Fire Fighting: The US Financial Crisis and Its Lessons, Extreme Economy, and Gray Rhino: How Individuals and Organizations Dance with Risk.
