The trouble is that if macro pru does not work, the interest rate would have to serve two opposing goals economic recovery and financial stability.

A Sustainable Recovery

Recovery, Interrupted

The American Recovery

Healing programmes

The observation that recoveries following a financial crisis are different suggests that standard macroeconomic policies might not work as one would usually expect.

Recovery before Reform

The Anatomy of Slow Recovery

BRUSSELS MEXICO CITY Since the global economic downturn began in 2008, debate has centered on the macroeconomic strategies and instruments used to address the crisis and foster recovery.

Policymakers thus feel justified in using all available macroeconomic levers to achieve a recovery that resembles those of the past.

As Carmen Reinhart and Kenneth Rogoff argue, recoveries from crises that result from over leveraged balance sheets are slow and typically resistant to traditional macroeconomic stimulus.

widowed or divorced staff member 3 246

Total net Total net remuneration is the sum of the non pensionable component and the net pensionable salary.

Total net Total net remuneration is the sum of the non pensionable component and the net pensionable salary.

Salary scale for staff in the Trades and Crafts category at Headquarters

America s Risky Recovery

A Recovery for All

Global Disaster Recovery

Obama s Recovery?

Recovering from Kosovo

Europe s Green Recovery

The Ghost in the Recovery Machine

This Recovery is Different

This is how we begin the healing process, together.

Recovery and reconstruction efforts

The tree can easily recover.

The housing sector has started to recover over the past five quarters, but from such a severely depressed level that its growth has had little impact on the overall economy.

Now, macroeconomics is a comparatively young discipline.

What s Stopping Robust Recovery?

The Long and Winding Road to Recovery

The Roots of China s Rapid Recovery

But is a recovery really underway?

(Applause)

These are an anemic, below trend, U shaped recovery in advanced economies, as firms and households continue to repair their balance sheets a stronger, V shaped recovery in emerging market countries, owing to stronger macroeconomic, financial, and policy fundamentals.

All of this would slow the recovery, perhaps even causing it to stall.

Total Progress

Grand total 452 21 473

Total Size

Total Time

Grand total 10 96 106

Total (gross)

Total 189.5

grand

Grand total 190 179 204 138 394 317

Grand total 142 143 49 49 191 192