Blanchard and Summers call for rethink of stabilisation policy

Olivier Blanchard, former IMF chief economist

The macroeconomic consensus on fiscal prudence and contained inflation is not adequate to fight the challenges the world economy faces now, and will encounter over the next decades, according to two leading economists.

The idea is put forward by Olivier Blanchard, former chief economist at the IMF, and Larry Summers, former US Treasury secretary, in their joint research paper Rethinking Stabilization Policy. Back to the Future.

The authors, who presented their work at the Peterson Institute in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: