The State of the World Economy
Speaker: Olivier Blanchard, Chief Economist & Director of Research, International Monetary Fund
Venue: Sheikh Zayed Theatre, Lower Ground Floor, New Academic Building, LSE (map & directions)
Overview: A strong and sustained world recovery requires two rebalancing acts. Internal, with a shift, in advanced countries, from fiscal support to private demand. External, with an increase in net exports in deficit countries, notably the US, and a decrease in net exports in surplus countries, notably China. Policy should be aimed at increasing their pace.
This event is the first in a series of lectures to celebrate 21 years of the Centre for Economic Performance.
In an interview prior to his lecture on 'The State of the World Economy', Olivier Blanchard talked to Romesh Vaitilingam about the two ‘rebalancing acts’ needed for a strong global recovery and the particular challenges facing the US, Europe and the emerging market economies.
About the Speaker: Olivier Blanchard is Economic Counsellor and Director of the Research Department at the IMF and has worked closely with the CEP over the last 25 years.
A citizen of France, Olivier Blanchard has spent his professional life in Cambridge, U.S. After obtaining his Ph.D in economics at the Massachusetts Institute of Technology in 1977, he taught at Harvard University, returning to MIT in 1982, where he has been since then. He is the Class of 1941 Professor of Economics, and past Chair of the Economics Department. He is currently on leave from MIT, as Economic Counsellor and Director of the Research Department of the International Monetary Fund.
He is a macroeconomist, who has worked on a wide set of issues, from the role of monetary policy, to the nature of speculative bubbles, to the nature of the labor market and the determinants of unemployment, to transition in former communist countries. In the process, he has worked with numerous countries and international organizations. He is the author of many books and articles, including two textbooks in macroeconomics, one at the graduate level with Stanley Fischer, one at the undergraduate level.
He is a fellow and Council member of the Econometric Society, a past vice president of the American Economic Association, and a member of the American Academy of Sciences.
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