Working Group on Economic Policy: WP14103

Abstract:

This paper examines the policies that led to the financial crisis of 2008 and the suggested policies  aimed at preventing such a crisis from ever happening again. It warns that top-down changes to  macroeconomic policy may be altering the underlying micro-foundations of the economy, leading to uncertain effects in the future.
 
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Rethinking Macro: Reassessing Micro-Foundations

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