Includes bibliographical references and index.

A roadmap to "rethinking macro" / Olivier Blanchard and Rafael Portillo -- Debt supercycle not secular stagnation / Kenneth Rogoff -- Rethinking secular stagnation after seventeen months / Lawrence Summers -- Systemic risk and financial regulation -- A note from the session on systemic risk and financial regulation / Paul Volcker -- A comparative analysis of financial sector health in the United States, Europe, and Asia / Viral Acharya -- Rethinking financial regulation : how confusions have prevented progress / Anat R. Admati -- Systemic risk and financial regulation: where do we stand? / Philipp Hildebrand -- Shadow banking as a source of systemic risk / Robert Rubin -- Macroprudential policies : gathering evidence -- Macroprudential policy regimes : definition and institutional implications / Paul Tucker -- Macroprudential tools, their limits and their connection with monetary policy / Hyun Song Shin -- A simple cost-benefit analysis of using monetary policy for financial-stability purposes / Lars E.O. Svensson -- Monetary policy in the future -- Introduction to the monetary policy section / Jos Villas -- Monetary policy in the future / Ben Bernanke -- A monetary policy for the future / John Taylor -- The credit surface and monetary policy / John Geanakoplos -- Remarks on the future of monetary policy / Gill Marcus -- Fiscal policy in the future -- Fiscal policy for the 21st century : testing the limits of the tax state? / Vitor Gaspar -- The future of fiscal policy / Martin Feldstein -- What future for rules-based fiscal policy? / Marco Buti -- On the proper size of the public sector and the level of public debt in the 21st / Century -- Brad DeLong -- Capital flows, exchange rate management, and capital controls -- Floating exchange rates, self oriented policies, and limits to economic integration / Maurice Obstfeld -- Some lessons of the global financial crisis from an eme and a Brazilian perspective / Luiz Pereira Da Silva -- Capital inflows, exchange rate management and capital controls / Agustin Carstens -- The international monetary and financial system -- The international monetary and financial system : eliminating the blind spot / Jaime Caruana -- Prospects and challenges for financial and macroeconomic policy coordination / Zeti Akhtar Aziz -- Global safe asset shortage : the role of central banks / Ricardo Caballero -- Going bust for growth / Raghuram Rajan -- Conclusion -- Rethinking macro policy : progress or confusion? / Olivier Blanchard -- Contributors -- Index.

Leading economists consider the shape and future of economic policy: Will it resume the pre-crisis consensus or contend with the post-crisis "new normal"? Have we made progress with addressing the major issues or does confusion remain in today's economic environment? Chapters address topics that range from the measurement of systemic risk to foreign exchange intervention.