Rethinking macro policy II : getting granular /

Rethinking macro policy II : getting granular /

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Bibliographic Details
Author / Creator:	Blanchard, Olivier, author.
Imprint:	Washington, D.C. : International Monetary Fund, Research Department, 2013.
Description:	1 online resource (26 pages).
Language:	English
Series:	IMF staff discussion note ; SDN/13/03 IMF staff discussion note ; SDN/13/03.
Subject:	Monetary policy. Fiscal policy. Capital movements. Capital movements. Fiscal policy. Monetary policy.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12501818

Hidden Bibliographic Details
Other authors / contributors:	Dell'Ariccia, Giovanni, author. Mauro, Paolo, author. International Monetary Fund. Research Department.
ISBN:	1484342380 1484363477 9781484363478 1484383540 9781484383544 1484365860 9781484365861 9781484342381
ISSN:	2221-030X
Notes:	"April 2013." "This paper was written as background for a conference on 'Rethinking Macroeconomic Policy II, ' to take place at the International Monetary Fund, April 16-17, 2013." English. Online resource; title from PDF title page (IMF, viewed Dec. 21, 2016).
Summary:	"The 2008-09 global economic and financial crisis shook the consensus on how to run macroeconomic policy. It reminded us of the dangers associated with financial sector imbalances; showed the limitations of monetary policy and cast doubt on some of the tenets of its intellectual foundations; and led to a reevaluation of what levels of public debt can be considered safe. This prompted a healthy reconsideration of what worked and what did not, and a debate on how to fix things, ranging from nitty-gritty technical points to broad-based institutional design questions. Five years from the beginning of the crisis, the contours of a new macroeconomic policy consensus remain unclear. But policies have been tried and progress has been made, both theoretical and empirical. This paper updates the status of the debate."--Executive summary.
Other form:	Print version:Print Version: 9781484342381
Standard no.:	10.5089/9781484342381.006 10.5089/9781484363478.006

Description
Summary:	This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments in monetary policy, including unconventional measures; the challenges associated with increased public debt; and the policy potential, risks, and institutional challenges associated with new macroprudential measures. Rationale: The note contributes to the ongoing debate on several aspects of macroeconomic policy. It follows up on the earlier "Rethinking" paper, refining the analysis in light of the events of the past two years. Given the relatively fluid state of the debate (e.g., recent challenges to central bank independence), it is useful to highlight that while many of the tenets of the pre-crisis consensus have been challenged, others (such as the desirability of central bank independence) remain valid.
Item Description:	"April 2013." "This paper was written as background for a conference on 'Rethinking Macroeconomic Policy II, ' to take place at the International Monetary Fund, April 16-17, 2013."
Physical Description:	1 online resource (26 pages).
ISBN:	1484342380 1484363477 9781484363478 1484383540 9781484383544 1484365860 9781484365861 9781484342381
ISSN:	2221-030X