Jump to ContentJump to Main Navigation
Progress and ConfusionThe State of Macroeconomic Policy$
Users without a subscription are not able to see the full content.

Olivier Blanchard, Raghuram G. Rajan, Kenneth S. Rogoff, and Lawrence H. Summers

Print publication date: 2016

Print ISBN-13: 9780262034623

Published to MIT Press Scholarship Online: January 2017

DOI: 10.7551/mitpress/9780262034623.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 26 September 2021

Rethinking Macro Policy: Progress or Confusion?

Rethinking Macro Policy: Progress or Confusion?

(p.287) 28 Rethinking Macro Policy: Progress or Confusion?
Progress and Confusion

Olivier Blanchard

The MIT Press

The chapter reviews the rethinking of macro policies since the crisis, with a focus on macro prudential tools, monetary policy and fiscal policy. It argues that there is broad progress and confusion. There is agreement that macro prudential policies have to become part of the policy toolkit, but it is unclear which tools should be used, given the uncertainty about the future shape of the financial system. Many lessons have been learnt in monetary policy, but there is no clear agreement on key issues such as the size of the central bank balance sheet or the type of instruments. And on fiscal policy, confusion remains about what constitute safe levels of debt.

Keywords:   rethinking macro, progress, confusion, macroprudential tools, monetary policy, fiscal policy

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.