Olivier Blanchard
Person on 3 sites
Olivier Blanchard is a French economist and one of the leading figures of New Keynesian macroeconomics.
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6 facts on wiqqi (opens wiqqi.app)
- Born: 27 December 1948, Amiens, France (opens wiqqi.app)
- IMF: Chief economist (Economic Counsellor and Head of the Research Department), September 2008 to 2015 (opens wiqqi.app)
- MIT: Professor from 1983 (full professor 1985); economics department chair, 1998 to 2003; Robert Solow Professor, 2010 to 2020, then emeritus (opens wiqqi.app)
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1 channel on ppll (opens ppll.app)
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x.com: @ojblanchard1 (opens x.com)
“Given current context, important to understand how ratings assess the relative role of debt, deficits, and other factors. I hope this starts a useful discussion.”
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x.com: @ojblanchard1 (opens x.com)
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25 beliefs on korrents (opens korrents.com)
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When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. (opens korrents.com)
“Across advanced economies, the celebrated ( r - g ), i.e., the difference between the interest rate and the growth rate, appears to have durably changed sign or, at a minimum, to have gone from a substantially negative…”
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The sharp steepening of the long end of the yield curve in 2023 was not predicted by economists, including forecasters who had modelled persistently low safe rates. (opens korrents.com)
“It is fair to say that, while economists expected the short end of the yield curve to reflect the higher rates needed to win the fight against inflation, the sharply steeper long end of the yield curve in the last few…”
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With r-g near zero, any advanced economy running a primary deficit will see its debt-to-GDP ratio rise once existing debt is refinanced at current rates. (opens korrents.com)
“Thus, once current debt has been refinanced and the average interest on debt reflects the higher long rates, absent changes in policy, debt ratios will increase.”
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When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. (opens korrents.com)