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The latest publishing venture of the Association of Serbian Banks, Progress and Confusion – The State of Macroeconomic Policy, edited by Olivier Blanchard, Raghuram Rajan, Kenneth Rogoff and Lawrence H. Summers, was presented to the public on 28 March 2018. The book launch organised by the Association of Serbian Banks was attended by a large number of reputable guests from the field of economics and academic circles, including the eminent professors from the faculties of economics in Belgrade, Kragujevac, Podgorica and Sarajevo, from the Belgrade Banking Academy, the Faculty of Economics, Finance and Administration - FEFA and the Institute of Economic Sciences, along with the Vice Governor of the National Bank of Serbia and President of the Board of Directors of the Deposit Insurance Agency.

In his introductory address, Prof. Dr Veroljub Dugalić, ASB Secretary General, spoke about the books published by the Association of Serbian Banks so far and reminded that the latest one testifies to the Association’s constant commitment to making the quality and current publications available to the postgraduate, master and doctoral students, researchers, analysts, financial experts, as well as the academic public in Serbia.

The participants were then addressed by Prof. Dr Nebojsa Savić, reviewer of the book, who expressed his satisfaction that the Association of Serbian Banks undertook the mission to continuously provide insights into such current publications to the professional public, after which he briefly exposed the book’s contents. Namely, the twenty-seven chapters of this book contain discussions held in April 2015 at a conference of the International Monetary Fund in order to assess how the global financial crisis and its consequences should change our attitudes towards macroeconomic policy. The focus is placed on the framework of future policy, and so the chapters address the following seven topics: “new normal”, systemic risk and financial regulation, macro-prudential policy, monetary policy in the future, fiscal policy in the future, capital inflows and exchange rate management, as well as the international monetary system. The flexible structure of this book allows it to cover a wide range of relevant topics, addressed by the world-renowned authors such as Kenneth Rogoff, Lawrence Summers, Paul Tucker, Lars Svensson, Ben Bernanke, Gill Marcus, Bradford DeLong, Jaime Caruana, etc.

Prof. Dr Dragana Gnjatović, expert editor of the book, also expressed her opinion, pointing to the fact that the contributors to Progress and Confusion are extremely important economic theoreticians “at the top of the top in macroeconomics today”, who demonstrated a high level of academic maturity, but also inquisitiveness, leaving room for further research and new answers. Professor Dr Hasan Hanić, Dean of the Belgrade Banking Academy, took the opportunity to thank the Association of Serbian Banks for its efforts to present to the public the capital works in the field of economics, banking, monetary and fiscal policy, and commended this particular publication. Congratulations on the choice of the book were also extended by Vladimir Vučković, Member of the Fiscal Council, who pointed out that this book came at the right time, representing a big step forward for the Association of Serbian Banks as a publisher, but also a real refreshment at the publishing scene when it comes to technical publications.

At the end, Dr Dugalić once again thanked all the participants, especially the contributors who took part in the preparation, publication and printing of this book, announcing that the Association of Serbian Banks is already busy choosing the next publishing project to focus on in the upcoming period.

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