Economic Policy: Theory and Practice

ISBN : 9780195322736

Agnes Benassy-Quere; Benoit Coeure; Pierre Jacquet; Jean Pisani-Ferry
728 Pages
162 x 242 mm
Pub date
Dec 2010
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Is the inflation objective of the European central bank set too low? Is European national debt excessive? Is a fixed or floating exchange rate better? Which taxes should be reformed? Can the European standard of living catch up with that of the United States? This book, a translation of a book published in French (de Boeck, 2004), brings precisely argued answers to these questions using rigorous economic analysis. The authors join together for the first time in one volume the fundamentals of the macroeconomic field with analysis of current debates in economic policy. They take the point of view of a policy maker who must intervene in one particular aspect of policy, and thus they put the reader at the cutting edge of the main issues, debates and challenges related to each policy aspect. Economic Policy explores in an open-ended way what various existing theories, macro and micro, have to say on these current policies, and points out the limits of each theory. Overall, it demonstrates to the reader how he or she can build upon the combination of existing theories and also on common sense in order to design adequate policy responses. The work will appeal to a large audience, including students in economics, management, and political science graduate schools, and professional economists and policy makers interested in issues in macroeconomics.


1. Concepts
2. Economic policy in a complex world
3. Fiscal policy
4. Monetary policy
5. International financial integration and foreign-exchange policy
6. International financial integration and foreign-exchange policy
7. Growth Policies
8. Tax policy

About the author: 

Agnes Benassy-Quere is the Director of the CEPII, the French leading research institute in international economics, and a Professor at University Paris-Ouest (on leave). She is a member of France's Commission Economique de la Nation and also teaches at Ecole Polytechnique. Her research interests focus on the international monetary system and European macroeconomic policy. ; Benoit Coeure teaches international economics and economic policy at Ecole polytechnique in Paris. He has served in various official positions in the French government including as the CEO of France's debt management office, Agence France Tresor and as France's deputy deputy to the G-7 and G-20. He has also been the co-President of the Paris Club. Benoit Coeure has authored articles and books on economic policy, the international monetary system and the economics of European integration. ; Since January 2002, Pierre Jacquet has been executive director (in charge of strategy) and chief economist at the French Development Agency (AFD). He was formerly deputy director of the French Institute of International Relations (IFRI) and chief editor of IFRI's quarterly review Politique Etrangere. He is professor of international economics and chairman of the department of economics and finance at the Ecole des Ponts - ParisTech and a guest professor in executive programs at the French business school INSEAD. His fields of interest include globalization, international monetary and financial issues, trade policies and negotiations, economic policy and development. ; Jean Pisani-Ferry is the Director of Bruegel, the Brussels-based economic think tank, and a professor of economics with Universite Paris-Dauphine. He has had a career in research and policy, both in France and at European level. He has been Executive President of the French PM's Council of Economic Analysis, Senior Economic Adviser to the French Minister of Finance, Director of CEPII, the French institute for international economics, and Economic Adviser with the European Commission. He has a regular column in Le Monde and Handelsblatt.

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