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INTERNATIONAL MONETARY FUND NEWS BRIEFING
OCTOBER 8, 2008
SPEAKERS: OLIVIER BLANCHARD, IMF ECONOMIC COUNSELOR
CHARLES COLLINS, DEPUTY DIRECTOR OF RES...
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OLIVIER BLANCHARD, ECONOMIC COUNSELLOR AND DIRECTOR OF THE RESEARCH DEPARTMENT, HOLDS A BRIEFING ON THE INTERNATIONAL MONETARY FUND'S WORLD ...
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... with the new IMF chief economist, Olivier Blanchard. The headline declared: "'Blanchard Sees...
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Economists who thought they had figured out how to keep national economies growing and inflation under control by simply focusing on short-term interest rates have learned some important lessons from the recent recession. Olivier Blanchard, economic counselor of the International Monetary Fund and head of its research department, is one economist who has done some rethinking. One clear lesson of the crisis is that fiscal policy can no longer play a secondary role to monetary policy. Fiscal policy should be changed to allow more room to maneuver during times of trouble.
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The state export numbers are adjusted for seasonal variation by infometrica to bring them in line with the national trade numbers - a statistical process that smooths out monthly fluctuations for factors such as the number of days in a month and holidays, thus truly providing a clear picture of monthly performance similar to the national numbers. Presenting IMF's World Economic Outlook, Olivier Blanchard, IMF's Director of Research, amply pointed out that "the world economy has entered a major downturn after being hit by two very large shocks: a surge in oil and commodity prices and the expanding financial crisis.
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The National Bureau of Economic Research's Program on Economic Fluctuations and Growth convened on Feb 6, 1998. The meeting featured Shubham Chaudhuri's paper 'Income Seasonality, Precautionary Saving, and Borrowing Constraints in an Agrarian Economy' and Olivier J. Blanchard's presentation 'The Medium Run.' Per Krussell, Lee Ohanian, Jose Victor Rios-Rull and Giovanni Violante also discussed their paper 'Capital-Skill Complementarity and Inequality: A Macroeconomic Analysis.' Other attendees included Peter Rupert, Richard Rogerson, Randall Wright, Giancarlo Corsetti and Paolo Pesenti.
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... (36) Antonio Spilimbergo, Steve Symansky, Olivier Blanchard, and Carlo Cottarelli, "Fiscal Policy fo...
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WASHINGTON - The world economy has entered a "dangerous new phase," according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Europe through the end of next year.
The IMF expects the U.S. economy to grow just 1.5 percent this year and 1.8 percent in 2012. That's down from its June forecast of 2.5 percent in 2011 and 2.7 percent next year.
... has entered a dangerous new phase," said Olivier Blanchard, the IMF's chief economist. "The recover...
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... unemployment (e.g., Scarpetta 1996; Blanchard and Wolfers 2000; International Monetary Fund 2003...9043. . Blanchard, Olivier, and Francesco Giavazzi. 2003. Macroeconomic effec...
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Profiles of prominent economists are presented. These include those of Massachusetts Institute of Technology professor Olivier J. Blanchard, Ecole Polytechnique de Montreal professor of economics and industrial engineering and University of Montreal economics professor Marcel Boyer, The Capital Group Inc. president and director Don R. Conlan, and University of California, Irvine, economics professor Charles A. Lave.