Stiglitz brings together this edited collection that presents a series of studies on contemporary macroeconomic issues and contains a set of key lessons for macroeconomic theory and policies from the recent global financial crisis

Supply shocks bring about important dilemmas for monetary policy in emerging economies. We compute monetary policy responses to supply shocks using quarterly data and a Bayesian panel VAR for 24 emerging economies during the period 2004-2019. In this framework, we identify supply shocks as...