Oracles, Heroes or Villains: Economic Policymakers, National Po .9781108493987

Oracles, Heroes or VillainsEconomic Policymakers, National Politicians and the Power to Shape Markets\nAuthor(s): George E. Shambaugh\nFormat: Hardback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9781108493987, 978-1108493987\nSynopsis\nIMF Managing Director Christine Lagarde declared central bankers and finance ministers to be the heroes of recent economic crises for taking corrective action while national politicians squabbled. What enabled them to do so? In the wake of Brexit, chaotic trade policies in the United States, and resurgent nationalism around the world, national politicians are quarrelling again, meanwhile the markets are roiling. Can we again depend on economic technocrats to save the day for these national politicians and the rest of us? What happens if they fail or, perhaps worse, go too far? In this timely book, Shambaugh answers these questions using recent economic crises in Argentina, the United States and.