000			09290cam a2200805 i 4500
001			u12379
003			SA-PMU
005			20210418124446.0
008			160111s2016 nyu b 001 0 eng
010			_a 2015035534
040			_aDLC _beng _erda _cDLC _dYDXCP _dBTCTA _dBDX _dGK8 _dBKL _dON8 _dGK5 _dUOK _dORX _dCDX _dOCLCF _dMNW _dZWZ _dJQM _dVP@ _dGZM _dCHVBK _dYUS _dAW3 _dTWTCL _dTXUPP _dOCLCO _dOCLCA _dOCLCQ _dSFR
019			_a923548132 _a937371653 _a964599868
020			_a9780812997620 _q(hbk. ; _qalk. paper)
020			_a081299762X _q(hbk. ; _qalk. paper)
020			_z9780812997637 _q(ebk)
024	8		_a40025685961
024	8		_a40025809922
035			_a(OCoLC)934627682 _z(OCoLC)923548132 _z(OCoLC)937371653 _z(OCoLC)964599868
037			_bRandom House Inc, Attn Order Entry 400 Hahn rd, Westminster, MD, USA, 21157 _nSAN 201-3975
042			_apcc
050	0	0	_aHG1811 _b.E44 2016
082	0	0	_a332.1/1 _223
084			_aBUS004000 _aPOL024000 _aBUS039000 _2bisacsh
084			_aBUS004000 _2z
084			_aPOL024000 _2z
100	1		_aEl-Erian, Mohamed A., _d1958- _eauthor.
245	1	4	_aThe only game in town : _bcentral banks, instability, and avoiding the next collapse / _cMohamed A. El-Erian.
250			_aFirst edition.
264		1	_aNew York : _bRandom House, _c[2016]
300			_axxi, 296 pages ; _c25 cm
336			_atext _btxt _2rdacontent
337			_aunmediated _bn _2rdamedia
338			_avolume _bnc _2rdacarrier
504			_aIncludes bibliographical references (pages 267-284) and index.
520			_a"Dr. Mohamed A. El-Erian, one of the world's most influential economic thinkers and the New York Times and Wall Street Journal bestselling author of When Markets Collide, has written a roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis. Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors--and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector--before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future. Advance praise for The Only Game in Town "Mohamed El-Erian has had an extraordinary career as an investment analyst, investor, and market commentator. His 'new normal' concept was prescient, provocative, and has proven out. Agree or disagree, his go-forward thoughts contained in this bracing book are well worth considering."--Lawrence H. Summers, former secretary of the U.S. Treasury "Achieves the nearly impossible: It takes complex financial issues and events and makes them both enlightening and entertaining. It's a must-read for anyone who cares about the global economy and its future."--Jack Welch "May well be the only book you need to read on how the global financial system works, the serious trouble we may be in, and what to do about it. El-Erian's gift for clarity and his use of compelling examples make important economic issues accessible."--Anne-Marie Slaughter, president and CEO, New America "The job of policymakers is mind-bogglingly hard. Who better than Mohamed El-Erian, with his knowledge of markets, his knowledge of policy, and his brilliant mind, to help organize their (and our) thoughts."--Olivier Blanchard, senior fellow at the Peterson Institute for International Economics "Today's global economy is beset by low growth and rising inequality. By looking at the tools now being used by the world's major central banks, Mohamed El-Erian shows how we can instead promote inclusive economic growth. This is a must-read from one of the most astute financial analysts of our time."--Walter Isaacson, author of Steve Jobs"-- _cProvided by publisher.
520			_a"Our current economic path is coming to an end. Where we go when we reach this inflection point - toward renewed growth and prosperity, or toward increased malaise and financial chaos - is not pre-destined. It is up to us; to our assessment of the situation and our actions, both as individuals and collectively. Now El-Erian, one of the most influential and highly regarded thinkers in the world, provides us with a diagnosis and roadmap to understanding where we are today, how and why our central banks have become the essential actors in the current global economy, but cannot remain so, and where we can - indeed, should and must - go from here as individual investors, households, economies, societies, and governments"-- _cProvided by publisher.
505	0		_aThe why, how, and what of this book. Setting the stage -- The only game in town -- Central banks' communication challenge -- How and why this book is organized -- Context: the rise, collapse, and resurrection of central banking. The golden age of central banks and "bubblish finance": a brief historical perspective -- Cascading failures -- Central bank resurrection: durable or a dead cat bounce? -- From the what to the so what. Setting the stage: the ten big challenges -- The quest of a generation: sustaining inclusive growth -- Reducing the risk of the unemployed becoming unemployable -- The inequality trifecta -- The persistent trust deficit -- National political dysfunction -- The "G-O": slide into the "international economic non-system" -- The migration and morphing of financial risk -- The liquidity delusion -- Bridging the gap between markets and fundamentals -- It is hard to be a good house in a challenged neighborhood -- The desirable way forward. Addressing the ten big challenges: dealing with willing central banks that lack sufficient tools -- The reduced-form approach to a grand policy design -- From what should happen to what is likely to happen. When desirable and feasible differ -- Turning paralyzing complexity into actionable simplicity -- The belly of the distribution of potential outcomes -- A world of greater divergence(I): multi-speed growth -- A world of greater divergence (II): multi-track central banks -- A world of greater divergence (III): non-economic, non-policy headwinds -- A world of greater divergence (IV): disruptive innovation goes macro -- Putting it all together -- The keys to navigating a bimodal distribution. What history tells us -- Recognizing blind spots and overcoming biases -- Advancing and enhancing cognitive diversity -- Translating awareness into optionality, resilience, and agility -- The power of scenario analyses -- Valuing liquidity and optionality -- Bringing it all together. In sum.
650		0	_aBanks and banking, Central.
650		0	_aMonetary policy.
650		0	_aEconomic policy.
650		4	_aNEW LIST 20160331.
650		7	_aBUSINESS & ECONOMICS _xBanks & Banking. _2bisacsh
650		7	_aPOLITICAL SCIENCE _xPublic Policy _xEconomic Policy. _2bisacsh
650		7	_aBUSINESS & ECONOMICS _xEconomics _xMacroeconomics. _2bisacsh
650		7	_aBanks and banking, Central. _2fast _0(OCoLC)fst00827036
650		7	_aEconomic policy. _2fast _0(OCoLC)fst00902025
650		7	_aMonetary policy. _2fast _0(OCoLC)fst01025230
650		7	_aFinanzkrise _2gnd
650		7	_aNotenbank _2gnd
650		7	_aWirtschaftspolitik _2gnd
650		7	_aBanques centrales. _2ram
650		7	_aPolitique monétaire. _2ram
650		7	_aPolitique économique. _2ram
856	4	2	_3Cover image _u9780812997620.jpg
938			_aBrodart _bBROD _n114097909
938			_aBaker and Taylor _bBTCP _nBK0017779773
938			_aCoutts Information Services _bCOUT _n33654241
938			_aYBP Library Services _bYANK _n12633798
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029	1		_aZWZ _b191591009
942			_cBOOK
994			_aZ0 _bSUPMU
948			_hNO HOLDINGS IN SUPMU - 972 OTHER HOLDINGS
596			_a1 2
999			_c7980 _d7980