Rethinking Macro Policy (Blanchard, Ariccia, Mauro)

Olivier Blanchard, Giovanni Dell`Ariccia and Paolo Mauro published Rethinking Macroeconomic Policy, as IMF Position Note. They said: “As the crisis slowly recedes, it´s time for a reassessment of what we know about how to conduct macroeconomic policy. It was tempting for macroeconomists and policymakers to take much of the credit for the steady decrease in cyclical fluctuations from the early 1980s on and to conclude that we knew how to conduct macroeconomic policy. We did not resist temptation…”. See: http://www.imf.org/external/pubs/ft/spn/2010/spn1003.pdf