Carmen Reinhart: Macroeconomic Management After a Crisis (6/7)

The speaker discusses the challenges of addressing financial crises, focusing on the role of private and public debt. They highlight the importance of understanding past crises to prevent future ones, emphasizing the need for effective monetary and fiscal policies. The discussion includes the impact of global imbalances and the potential for a retrenchment in globalization. The speaker concludes by reflecting on historical approaches to debt management and the likelihood of similar strategies being employed in the future.

How does the speaker relate unemployment to output declines following a financial crisis?

What are the old tools of monetary policy that the speaker suggests should be revisited?

What trade-offs does the speaker discuss regarding fiscal policy in the context of Japan?

What does the speaker imply about the future of globalization based on historical cycles?