Rethinking Macroeconomic Policy

 
Author/Editor: Dell'Ariccia, Giovanni ; Blanchard, Olivier ; Mauro, Paolo
 
Publication Date: February 12, 2010
 
Electronic Access: Free Full text (PDF file size is 206KB).
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. 2010/3
Subject(s): Bank credit | Bank supervision | Central bank role | Financial intermediation | Global Financial Crisis 2008-2009 | Inflation targeting | Liquidity management

 
English
Publication Date: February 12, 2010
ISBN/ISSN: 9781455224982 Format: Paper
Stock No: SPNEA2010003 Pages: 19
Price:
Free
 
 
English
Publication Date: February 12, 2010
ISBN/ISSN: 978-1-58906-944-2 / 2072-3202 Format: A web quality merged PDF
Stock No: SPNET2010003 Pages: 19
Price:
Free
 
 
Please address any questions about this title to publications@imf.org