78 - Olivier Blanchard on the State of Macroeconomics

Olivier Blanchard is the C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics and the former Director of Research at the International Monetary Fund. Today, he joins the show to discuss working at the IMF in the midst of the 2008 financial crisis and Great Recession. He also shares his thoughts on the limitations of current-day macroeconomic models as well as some suggestions to improve them. David’s blog: macromarketmusings.blogspot.com/ Macro Musings podcast site: macromusings.com David’s Twitter: @DavidBeckworth Olivier Blanchard’s MIT profile: https://economics.mit.edu/faculty/blanchar Olivier Blanchard’s PIIE profile: https://piie.com/experts/senior-research-staff/olivier-blanchard Olivier Blanchard’s Twitter: @ojblanchard1 Related links: “Do DSGE Models Have a Future?” by Olivier Blanchard https://piie.com/publications/policy-briefs/do-dsge-models-have-future “On the Need for (At Least) Five Classes of Macro Models” by Olivier Blanchard https://piie.com/blogs/realtime-economic-issues-watch/need-least-five-classes-macro-models “Will Interest Rates Lead to Fiscal Crisis?” by Olivier Blanchard https://piie.com/publications/policy-briefs/will-rising-interest-rates-lead-fiscal-crises “Getting Serious About Wage Inflation in Japan” by Olivier Blanchard and Adam Posen https://asia.nikkei.com/Viewpoints-archive/Viewpoints/Getting-serious-about-wage-inflation-in-Japan “Monetary Policy: Science or Art?” by Olivier Blanchard https://economics.mit.edu/files/742