Rethinking Macroeconomic Policy

Author/Editor:

Giovanni Dell'Ariccia ; Olivier J Blanchard ; Paolo Mauro

Publication Date:

February 12, 2010

Electronic Access:

Free Full text (PDF file size is 206 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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.

Series:

Staff Position Note No. 2010/03

Subject:

English

Publication Date:

February 12, 2010

ISBN/ISSN:

9781455224982/

Stock No:

SPNEA2010003

Price:

$10.00 (Academic Rate:$10.00)

Format:

Paper

Pages:

19

Please address any questions about this title to publications@imf.org