Joshua Felman
International Monetary Fund
Abstract:
In a famous paper, Blanchard and Leigh (2013) discovered that there was a strong link between fiscal consolidation projected in Spring 2010 and subsequent growth forecast errors. They interpreted this link as indicating that forecasters had used multipliers that were far too low. This paper argues that this interpretation was not correct. The real problem was that forecasters failed to foresee the euro area crisis.
Date: June 23, 2016
Time: 04:30 P.M.
Venue:
Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)
Location:
View Larger Map
Note:
Those who are interested may please confirm your participation at bins.sebastian@nipfp.org.in
International Monetary Fund
Abstract:
In a famous paper, Blanchard and Leigh (2013) discovered that there was a strong link between fiscal consolidation projected in Spring 2010 and subsequent growth forecast errors. They interpreted this link as indicating that forecasters had used multipliers that were far too low. This paper argues that this interpretation was not correct. The real problem was that forecasters failed to foresee the euro area crisis.
Date: June 23, 2016
Time: 04:30 P.M.
Venue:
Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)
Location:
View Larger Map
Note:
Those who are interested may please confirm your participation at bins.sebastian@nipfp.org.in
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