Book notes: The other half of macroeconomics, by Richard Koo
Richard Koo’s latest book updates his work on balance sheet recessions
Richard Koo, The other half of macroeconomics and the fate of globalization, Wiley, 2018, 320 pages
What Richard Koo has done in his latest book is to update stages of growth theories to take account of globalisation and to draw from that the implications for economic policy. Koo argues that the choice of policy instruments should vary with the development stage. Most of the advanced countries have relatively stable prices, slow growth and undesirably low rates of investment despite very low
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