Abstract

http://ssrn.com/abstract=1235536
 
 

References (47)



 
 

Citations (23)



 


 



The State of Macro


Olivier J. Blanchard


Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER); International Monetary Fund (IMF)

August 12, 2008

MIT Department of Economics Working Paper No. 08-12

Abstract:     
For a long while after the explosion of macroeconomics in the 1970s, the field looked like a battle field. Over time however, largely because facts do not go away, a largely shared vision both of fluctuations and of methodology has emerged. Not everything is fine. Like all revolutions, this one has come with the destruction of some knowledge, and suffers from extremism and herding. None of this is deadly however. The state of macro is good.

The first section sets the stage with a brief review of the past. The second argues that there has been broad convergence in vision, and the third reviews the specifics. The fourth focuses on convergence in methodology. The last looks at current challenges.

Number of Pages in PDF File: 32

Keywords: Macroeconomics, shocks, propagation mechanisms, fluctuations

JEL Classification: E20, E30, E40

working papers series


Download This Paper

Date posted: August 20, 2008 ; Last revised: August 26, 2008

Suggested Citation

Blanchard, Olivier J., The State of Macro (August 12, 2008). MIT Department of Economics Working Paper No. 08-12. Available at SSRN: http://ssrn.com/abstract=1235536 or http://dx.doi.org/10.2139/ssrn.1235536

Contact Information

Olivier J. Blanchard (Contact Author)
Massachusetts Institute of Technology (MIT) - Department of Economics ( email )
Room E52-357
50 Memorial Drive
Cambridge, MA 02142
United States
617-253-8891 (Phone)
617-253-4096 (Fax)
HOME PAGE: http://mit.edu/blanchar/www/
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
International Monetary Fund (IMF) ( email )
700 19th Street, N.W.
Washington, DC 20431
United States
202 623 7825 (Phone)
202 623 7271 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 7,065
Downloads: 2,575
Download Rank: 1,867
References:  47
Citations:  23

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo3 in 0.422 seconds