Wednesday, 31 December 2014

Audio on how macroeconomics has changed since the crisis

Wouter den Haan, Professor of Economics and Co-Director of the Centre for Macroeconomics, London School of Economics and CEPR Research Fellow, is interviewed at by Viv Davies.
Macroecomics has changed in a number of ways since the global crisis. For example, there is now more emphasis on modeling the financial sector, self-fulfilling panics, herd behaviour and the new role of demand. This Vox Talk discusses these changes as well as those areas in macroeconomics that are currently perhaps not researched enough. Wouter Den Haan explains the inadequacy of the conventional 'rational expectations' approach, quantitative easing, endogenous risk and deleveraging and refers to current CEPR research that reflects the changes. He concludes by reminding us that the the 'baby boomers' issue could be the basis of the next crisis.

A direct link to the audio is available here.

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