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Rethinking Macroeconomic Policy

Rethinking Macroeconomic Policy

By Giovanni Dell'Ariccia, Olivier J. Blanchard & Mr. Paolo Mauro Business & Personal Finance 12/02/2010

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 the main elements of the pre-crisis conse

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