The State of Macro

Olivier J. Blanchard

International Monetary Fund (IMF); National Bureau of Economic Research (NBER)

January 2009

Annual Review of Economics, Vol. 1, pp. 209-228, 2009

For a long while after the explosion of macroeconomics in the 1970s, the field looked like a battlefield. Over time, however, mainly 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 it suffers from extremism and herding. None of this is deadly, however. The state of macro is good.

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Date posted: August 31, 2011  

Suggested Citation

Blanchard, Olivier J., The State of Macro (January 2009). Annual Review of Economics, Vol. 1, pp. 209-228, 2009. Available at SSRN: http://ssrn.com/abstract=1920058 or http://dx.doi.org/10.1146/annurev.economics.050708.142952

Contact Information

Olivier J. Blanchard (Contact Author)
International Monetary Fund (IMF) ( email )
700 19th Street, N.W.
Washington, DC 20431
United States
202 623 7825 (Phone)
202 623 7271 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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