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Friday, April 5, 2013

Five Lessons for Economists from Financial Crisis!

Olivier Blanchard, Former MIT Faculty and IMF Chief Economist, offers five lessons for economists from recent global financial crisis, as published in the Wall Street Journal.

1. Humility is in order;
2. The financial system matters a lot;
3. Interconnectedness matters;
4. We don't know if macro-prudential tools work; and
5. Central bank independence wasn't designed for what central banks are now asked to do.

Link of the report. 

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