Posted on April 5, 2011 by iMFdirect
Open, wide-ranging, and balanced discussion. For Olivier Blanchard—and co-hosts David Romer, Michael Spence & Joseph Stiglitz—that was the goal of last month’s conference at the IMF on the future of macroeconomic policies after the global financial crisis. And it is exactly what they got.
The crisis was a wakeup call for theorists and policymakers… Economic models, policy tools, and how they are applied need to catch up with changes in the global economic and financial system.
You’ve heard here about views from the conference, but there’s plenty of discussion going on outside the IMF. Here’s a snapshot…. Continue reading
Filed under: Economic research, International Monetary Fund | Tagged: Anders Aslund, David H. Romer, Financial regulation, financial sector risk, global financial crisis, high-frequent trading, Joseph E. Stiglitz, macroeconomic models, Macroeconomic policies, Mark Thoma, Matthew Yglesias, Michael Spence, Olivier Blanchard, Paul Krugman, Perry Mehrling, policy tools, Robert Solow, unemployment | 2 Comments »
Posted on April 2, 2011 by iMFdirect
There has been plenty of reflection, during the past few years, on the causes of the global financial crisis. But, last month’s conference at the IMF focused on taking what we’ve learned from the crisis and looking toward the future of economic policy.
Robert Solow—Professor Emeritus at Massachusetts Institute of Technology and Nobel Prize winning economist—was among those who brought interesting perspectives and a wealth of experience to the conference discussions.
Watch Professor Solow’s interview and hear more about what he has to say on… Continue reading
Filed under: Economic Crisis, Economic research, International Monetary Fund | Tagged: bank credit, economic growth, education, fiscal policy, global economic crisis, global financial crisis, macroeconomic policy, monetary policy, Nobel Prize, public debt, Robert Solow | Leave a comment »
Posted on March 13, 2011 by iMFdirect
By Olivier Blanchard
(Version in Français, Español)
The global economic crisis taught us to question our most cherished beliefs about the way we conduct macroeconomic policy. Earlier I had put forward some ideas to help guide conversations as we reexamine these beliefs. I was heartened by the wide online debate and the excellent discussions at a conference on post-crisis macroeconomic policy here in Washington last week. At the end of the conference, I organized my concluding thoughts around nine points. Let me go through them and see whether you agree or not. Continue reading
Filed under: Economic Crisis, Economic research, Financial Crisis, Financial regulation, Financial sector supervision, Fiscal policy, growth, International Monetary Fund | Tagged: Adair Turner, agency theory, Andrew Sheng, Behavioral economics, capital controls, cross-border linkages, Dani Rodrik, Financial regulation, inflation targeting, Joseph Stiglitz, liquidity, macroeconomic policy, macroprudential regulation, Michael Spence, Olivier Blanchard, Paul Romer, policy instruments, policy targets, Robert Solow, SDRs, Special Drawing Rights, systemic crisis, Washington Consensus | 23 Comments »