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Rethinking Macroeconomic Policy
Open accessAbstract
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 precrisis consensus, identify where we were wrong and what tenets of the precrisis framework still hold, and take a tentative first pass at the contours of a new macroeconomic policy framework.
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Citations
Cited by
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Bordo, M., & Levin, A. (2017) · National Bureau of Economic Research · doi:10.3386/w23711 · Cited by 508
Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies
Kuttner, K. N., & Shim, I. (2016) · Journal of Financial Stability · doi:10.1016/j.jfs.2016.07.014 · Cited by 339
Managing a Liquidity Trap: Monetary and Fiscal Policy
Werning, I. (2011) · National Bureau of Economic Research · doi:10.3386/w17344 · Cited by 320
The Macroeconomics of Trend Inflation
Ascari, G., & Sbordone, A. M. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.3.679 · Cited by 292
Bank stability in South Africa: what matters?
Mishi, S., & Alwyn Khumalo, S. (2019) · Banks and Bank Systems · doi:10.21511/bbs.14(1).2019.11 · Cited by 8
Metadata
- Authors
- BLANCHARD, O., DELL’ARICCIA, G., & MAURO, P.
- Venue
- Journal of Money, Credit and Banking
- Publisher
- Wiley
- Published
- 2010-08-18
- Volume
- 42
- Issue
- s1
- Pages
- 199-215
- ISSN
- 0022-2879
- 1538-4616
- OpenAlex
- W3123510272
- Cited by
- 868
- References
- 0
- FWCI
- 109.57
- Type
- book chapter
- Language
- en
- Open access
- bronze
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- BLANCHARD, O., DELL’ARICCIA, G., & MAURO, P. (2010). Rethinking Macroeconomic Policy. Journal of Money, Credit and Banking. https://doi.org/10.1111/j.1538-4616.2010.00334.x
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
