What Olivier Blanchard thinks about surgical outcomes

@olivier-blanchard · 24 positions · 1 change of mind · On ppll ↗

Economist; former chief economist of the International Monetary Fund.

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Only Olivier Blanchard on surgical outcomes. See everyone on surgical outcomes

1 dated position, 2022, in their own words. Our reading of what Olivier Blanchard has said — not written or endorsed by them.

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1. 1 Jun 2022

   Our readingA persistently low safe interest rate signals that capital is not very productive at the margin, an underlying economic problem rather than a policy variable.

   interest rates

   Their wordsA low r is actually a signal that something is wrong with the economy: In effect, if we think of the safe rate as the risk-adjusted rate of return on capital, the low safe rate is sending the signal that, risk adjusted, the return on capital is low.

   ↗Fiscal Policy under Low Interest Ratesdirect.mit.edu All 22 from this book