Written by recognized academics, policy makers, and market participants, this is an illuminating and unbiased synthesis of the collected wisdom on crisis-related research. Giving due credit to the vigorous policy measures taken by central banks to mitigate the effects of the global financial crisis, this thorough and analytical volume examines various topics, including monetary policy, debt crisis, exchange-rate policies, financial-stability imperatives and regulation, international financial framework, exit policy, and asset price bubbles. Arguments from across the entire spectrum of economic theory and policy in these areas appear with a smooth dovetailing of points and counterpoints, satisfying diverse queries raised about the causes and implications of the crisis.