Description
Book SynopsisOlivier Blanchard
A citizen of France, Olivier Blanchard has spent most of his professional life in Cambridge, Massachusetts. After obtaining his PhD in economics at the Massachusetts Institute of Technology in 1977, he taught at Harvard University, returning to MIT in 1982. He was chair of the economics department from 1998 to 2003. In 2008, he took a leave of absence to be the Economic Counsellor and Director of the Research Department of the International Monetary Fund. Since October 2015, he is the Fred Bergsten Senior Fellow at the Peterson Institute for International Economics, in Washington. He also remains Robert M. Solow Professor of Economics emeritus.
He has worked on a wide set of macroeconomic issues, from the role of monetary policy, to the nature of speculative bubbles, to the nature of the labor market and the determinants of unemployment, to transition in form
Table of Contents
THE CORE
Introduction
1. A Tour of the World
2. A Tour of the Book
The Short Run
3. The Goods Market
4. Financial Markets I
5. Goods and Financial Markets; The IS-LM Model
6. Financial Markets II
The Medium Run
7. The Labor Market
8. The Phillips Curve, the Natural Rate of Unemployment, and Inflation
9. Putting All Markets Together: From the Short to the Medium Run
The Long Run
10. The Facts of Growth
11. Saving, Capital Accumulation, and Output
12. Technological Progress and Growth
13. Technological Progress: The Short, the Medium, and the Long Runs
EXTENSIONS
Expectations
14. Financial Markets and Expectations
15. Expectations, Consumption, and Investment
16. Expectations, Output, and Policy
The Open Economy
17. Openness in Goods and Financial Markets
18. The Goods Market in an Open Economy
19. Output, the Interest Rate, and the Exchange Rate
20. Exchange Rate Regimes
Back to Policy
21. Should Policy Makers Be Restrained?
22. Fiscal Policy: A Summing Up
23. Monetary Policy: A Summing Up
24. Epilogue: The Story of Macroeconomics
