The latest global financial crisis has allowed the International Monetary Fund (IMF) a spectacular comeback. But despite its notorious reputation as a staunch advocate of restrictive economic policies, the Fund has displayed less preference for austerity in recent crisis lending. Though widely...

"In the aftermath of the financial crisis, governments in the western world resumed policyinstruments from the immediate post-war period´s mixed economies. These instruments hadall been abandoned in the liberalizing market economies of the last decades. How do weinterpret these developments in...