Rethinking Macroeconomic Policy

Rethinking Macroeconomic Policy

by Mr. Giovanni Dell'Ariccia, Olivier J. Blanchard, Mr. Paolo Mauro
     
 
The great moderation lulled macroeconomists and policymakers alike in the belief that we knew how to conduct macroeconomic policy. The crisis clearly forces us to question that assessment. In this paper, we review the main elements of the pre-crisis consensus, we identify where we were wrong and what tenets of the pre-crisis framework still hold, and take a tentative

Overview

The great moderation lulled macroeconomists and policymakers alike in the belief that we knew how to conduct macroeconomic policy. The crisis clearly forces us to question that assessment. In this paper, we review the main elements of the pre-crisis consensus, we identify where we were wrong and what tenets of the pre-crisis framework still hold, and take a tentative first pass at the contours of a new macroeconomic policy framework.

Product Details

ISBN-13:
9781452789675
Publisher:
INTERNATIONAL MONETARY FUND
Publication date:
02/12/2010
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
663 KB

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