Welcome to the WEA conference
Monetary Policy after the Global Crisis How Important are Economic (Divisia) Monetary Aggregates for Economic Policy?
(in honour of William A. Barnett)



Filip Fidanoski, University of New South Wales, Sydney, Australia
James Swofford, University of South Alabama, USA



This year marks the tenth anniversary of the greatest recession after 1929-33.  The recent financial crisis has induced central banks to undertake substantial steps. These steps include quantitative easing or a renewed focus on the quantity of money in the economy.  Therefore, our main goal was to establish a good forum for confronting of the opposite views about the causes and consequences of the Great Crisis.  Specifically, some economists acknowledge the importance of proper money aggregation in preventing of the future economic slowdowns.

The aims of the conference included discussing key theoretical insights in order:

  • to provide a framework for improving monetary policy practices.
  • to review and advance knowledge on the recent financial crisis regarding the main challenges and prospects of central banking
  • to particularly survey and discuss the use of Divisia monetary aggregates and their potential role to address central bank challenges economic vulnerabilities

In sum, the conference aimed to survey and discuss the recent theoretical advances in monetary tools, goals and policies, along with the latest empirical research findings with particular emphasis on the role and relevance of Divisia monetary aggregates.  Indeed, this Conference was one of the first which, in an extensive manner, tackled the problem of monetary aggregation after the Great crisis.  The decisive questions addressed were:

  • How important are economic (Divisia) monetary aggregates for contemporary economic policy?
  • Do Divisia monetary aggregates deserve more attention from both academic scholars and policy-makers?

For queries, please contact Filip Fidanoski or James Swofford at weamonetarypolicy@gmail.com.

Guide for first time visitors

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