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Rescuing our jobs and savings
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EBook
Rescuing our jobs and savings: What G7/8 leaders can do to solve the global credit crisis
Edited by Barry Eichengreen (Berkeley) and Richard Baldwin (Graduate Institute). A VoxEU.org Publication.
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| The book was published just before the G7 finance ministers meeting on 11 October. That meeting came on the heels of a failed meeting among EU heads of state the previous weekend and a week in which stock markets around the globe dropped 25% as uncertainty and fear spread worldwide. The G7 Finance Ministry meeting was largely unprepared and it was not clear that they had any idea of what to do. With this sense of urgency in mind, Eichengreen and Baldwin assembled a group of leading economists to offer priorities for crisis response. This was not a homogenous collection of experts. The contributors are from different continents and different schools of thought, yet there was a remarkable degree of consensus that policy makers must move boldly to stabilise the financial system. |
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| * A quick bank recapitalisation with global coordination |
| * A guarantee of deposits and/or loans with global coordination |
| * Further, coordinated macroeconomic stimulus. |
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| The book was downloaded 10,000 times in the first 24 hours and about 32,000 times to date. |
| The authors: |
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| Klaus F. Zimmermann (Bonn), Alberto Alesina (Bocconi), Guido Tabellini (Bocconi), Daniel Gros (CEPS), Avinash Persaud (Intelligence Capital), Douglas W. Diamond (Chicago), Anil K Kashyap (Chicago), Raghuram G. Rajan (Chicago), Richard Portes (LBS), Stijn Claessens (IMF), Barry Eichengreen (Berkeley), Charles Wyplosz (Graduate Institute), Luigi Guiso (EUI), Marco Pagano (Naples), Charles Calomiris (Columbia), Roger Craine (UCLA), J. Bradford DeLong (Berkeley), Michael Burda (Humbolt), Angel Ubide (Tudor Capital). |
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| Richard Baldwin |
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Barry Eichengreen |
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| Professor of International Economics, Graduate Institute, Geneva; CEPR Policy Director, and VoxEU.org Editor-in-Chief |
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Professor of Economics and Political Science at the University of California, Berkeley; and formerly Senior Policy Advisor at the International Monetary Fund. CEPR Research Fellow |
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