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Rethinking Macro Policy II: Getting Granular

Rethinking Macro Policy II: Getting Granular »

Source: Rethinking Macro Policy II : Getting Granular

Volume/Issue: 2013/3

Series: Staff Discussion Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: Bank of Communications/New Finance

Publication Date: 15 April 2013

Language: Chinese

ISBN: 9781484393369

Keywords: Monetary policy, Central banks, Inflation targeting, Liquidity, Interest rates, Capital flows, Fiscal policy, Public debt, Fiscal consolidation, Macroprudential Policy

This is a Chinese translation of "Rethinking Macro Policy II" (SDN/13/03). This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments i...

Rethinking Macroeconomic Policy1

Rethinking Macroeconomic Policy1 »

Source: Rethinking Macroeconomic Policy

Volume/Issue: 2010/03

Series: IMF Staff Position Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2010

ISBN: 9781455224982

Keywords: Bank credit, Bank regulations, Bank supervision, Central bank role, Economic policy, Economic stabilization, Financial crisis, Financial intermediation, Fiscal policy, Inflation targeting

The great moderation lulled macroeconomists and policymakers alike in the belief that we knew how to conduct macroeconomic policy. The crisis clearly forces us to question that assessment. In this paper, we review...

Fire Sales and the Financial Accelerator

Fire Sales and the Financial Accelerator »

Source: Fire Sales and the Financial Accelerator

Volume/Issue: 2010/141

Series: IMF Working Papers

Author(s): Woon Choi , and David Cook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

ISBN: 9781455201242

Keywords: fire sales, financial accelerator, endogenous recovery rate, financial shock, liquidity spiral, collateral, inflation, monetary policy, inflation targeting, real interest rates

During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates...

Rethinking Macro Policy II
			: Getting Granular

Rethinking Macro Policy II : Getting Granular »

Volume/Issue: 2013/3

Series: Staff Discussion Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: Bank of Communications/New Finance

Publication Date: 15 April 2013

Language: Chinese

DOI: http://dx.doi.org/10.5089/9781484393369.006

ISBN: 9781484393369

Keywords: Monetary policy, Central banks, Inflation targeting, Liquidity, Interest rates, Capital flows, Fiscal policy, Public debt, Fiscal consolidation, Macroprudential Policy

This is a Chinese translation of "Rethinking Macro Policy II" (SDN/13/03). This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments i...

Rethinking Macroeconomic Policy

Rethinking Macroeconomic Policy »

Volume/Issue: 2010/03

Series: IMF Staff Position Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2010

DOI: http://dx.doi.org/10.5089/9781455224982.004

ISBN: 9781455224982

Keywords: Bank credit, Bank regulations, Bank supervision, Central bank role, Economic policy, Economic stabilization, Financial crisis, Financial intermediation, Fiscal policy, Inflation targeting

The great moderation lulled macroeconomists and policymakers alike in the belief that we knew how to conduct macroeconomic policy. The crisis clearly forces us to question that assessment. In this paper, we review...

Fire Sales and the Financial Accelerator

Fire Sales and the Financial Accelerator »

Volume/Issue: 2010/141

Series: IMF Working Papers

Author(s): Woon Choi , and David Cook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201242.001

ISBN: 9781455201242

Keywords: fire sales, financial accelerator, endogenous recovery rate, financial shock, liquidity spiral, collateral, inflation, monetary policy, inflation targeting, real interest rates

During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates...