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Olivier Blanchard

@olivier-blanchard · 2 positions · 1 change of mind

Economist; former chief economist of the International Monetary Fund.

Olivier Blanchard did not write this page. We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it.

  1. 6 Nov 2023

    Our reading

    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.

    Their wordsIt 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 months has come as a surprise. I shall freely admit that I did not predict it.

    ↗If markets are right about long real rates, public debt ratios will increase for some timepiie.com

    inflation

  3. 6 Nov 2023

    Our reading

    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.

    Their wordsThus, 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.

    ↗If markets are right about long real rates, public debt ratios will increase for some timepiie.com