Olivier Blanchard

Papers

You will find mostly recent papers and articles on this page. Many of the older ones are available either as NBER Working Papers or through JStor. To get them, go to my CV, and follow the links.

To make things simpler, I have organized the papers and articles on this page under a few headings.

Current Events

Sustaining the Recovery: Challenges on the Supply and the Demand Side
Olivier J. Blanchard
January 3, 2010

Fiscal Policy for the Crisis
Olivier Blanchard, Carlo Cottarelli, Antonio Spilimbergo, and Steven Symansky
February 7, 2009

Cracks in the System: Repairing the Damaged Global Economy
Olivier J. Blanchard
December 2008

The Crisis: Basic Mechanisms, and Appropriate Policies
Olivier J. Blanchard
December 28, 2008

SLIDES FOR
The Crisis: Basic Mechanisms, and Appropriate Policies
Olivier J. Blanchard
Prepared for The Munich Lectures in Economics
November 2008

A Macroeconomic Survey of Europe
May 2008

France's Economic Health
May 2007

Global Imbalances
May 2007

A Macroeconomic Survey of Europe
September 2006

The Macroeconomics of Oil
September 2006

Portugal, Italy, Spain, and Germany: The Implications of a Suboptimal Currency Area
April 2006

A Macroeconomic Survey of Europe
November 2005

Rebalancing Growth in China: A Three-Handed Approach
Olivier Blanchard and Francesco Giavazzi
December 2005

A Macroeconomic Survey of Europe
December 2004

A Macroeconomic Survey of Europe
January 2004

Short Run Prospects in Europe and the United States
September 2003

European Growth Over The Next Decade
September 2003

A Macroeconomic Survey of Europe
June 2003

A Macroeconomic Survey of Europe
December 2002

Macroeconomics
(Fluctuations, Monetary and Fiscal Policy, Bubbles)

Rethinking Macroeconomic Policy
Olivier J. Blanchard, Giovanni Dell'Ariccia, and Paolo Mauro
January 2010

Why are the 2000s so Different from the 1970s? A Structural Interpretation of Changes in the Macroeconomic Effects of Oil Prices
Olivier J. Blanchard and Marianna Riggi
October 2009

News, Noise, and Fluctuations: An Empirical Exploration
Olivier J. Blanchard, Jean-Paul L'Huillier, and Guido Lorenzoni
May 2009

The State of Macro
August 2008

The Macroeconomic Effects of Oil Price Shocks: Why are the 2000s so Different from the 1970s?
Olivier J. Blanchard (MIT), Jordi Gali (Universitat Pompeu Fabra)
August 2007

Productivity and Unemployment.pdf
Olivier Blanchard, Robert Solow, and Beth Anne Wilson

Current Account Deficit in Rich Countries
January 2007

Monetary Policy; Science or Art?
April 2006

Adjustment within the Euro. The Difficult Case of Portugal
Olivier Blanchard
November 2006

A New Keynesian Model with Unemployment
Olivier J. Blanchard and Jordi Gali
July 2006

Real Wage Rigidities and the New Keynesian Model
Olivier Blanchard and Jordi Gali
September 2005

The U.S. Current Account and the Dollar
Olivier Blanchard, Francesco Giavazzi and Filipa Sa
Prepared for the AEA meetings in Philadelphia, January 2005.

Non-technical slides for the U.S. Current Account and the Dollar
April 2005

Fiscal Dominance and Inflation Targeting: Lessons From Brazil
March 2004

Data and Programs for Fiscal Dominance and Inflation Targeting: Lessons from Brazil
March 2004

Improving the SGP Through A Proper Accounting of Public Investment
with Francesco Giavazzi
May 2003

A Discussion of Inflation Targeting
April 2003

Monetary Policy and Unemployment
March 2003

Current Account Deficits in the Euro Area. The End of the Feldstein Horioka Puzzle?
with Francesco Giavazzi
October 2002

Figures for 'Current Account Deficits in the Euro Area. The End of the Feldstein Horioka Puzzle?'
with Francesco Giavazzi
October 2002

Regression data for 'Current Account Deficits in the Euro Area. The End of the Feldstein Horioka Puzzle?'
with Francesco Giavazzi
March 2002

OECD data for 'Current Account Deficits in the Euro Area. The End of the Feldstein Horioka Puzzle?'
with Francesco Giavazzi
October 2002

An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
with Roberto Perotti
November 2001

Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty
with Philippe Weil
November 2002

Data set for An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
with Roberto Perotti
2001

Country Adjustments within Euroland. Lessons after Two Years
Written for CEPR annual report on the European Central Bank
March 2001

The Long and Large Decline in U.S. Output Volatility
with John Simon, for Brookings Meeting on Economic Activity
March 2001

Automatic Fiscal Stabilizers
April 2000

Bubbles, Liquidity Traps, and Monetary Policy
February 2000

The Stock Market, Profit, and Investment
February 1993

The Stock Market, Profit, and Investment (Data Sets)

The Dynamic Effects of Aggregate Demand and Supply
with Danny Quah
1989

The Dynamic Effects of Aggregate Demand and Supply (Data Sets in ZIP format)

Unemployment

Unemployment and the Quality of Labor Relations II
Olivier Blanchard and Thomas Philippon
November 2006

A review of "Unemployment. Macroeconomic Performance and the Labour Market" by Layard, Nickell, and Jackman
July 2006

European Unemployment: The Evolution of Facts and Ideas
October 2005

The Quality of Labor Relations and Unemployment
Olivier Blanchard and Thomas Philippon
June 2004

Explaining European Unemployment
April 2004, NBER Reporter, 2004

Peut-on eliminer le chomage en Europe?
Olivier Blanchard
December 2003, Transcription of I'IDEI October 2003 Conference in Toulouse

The Economics of Unemployment: Shocks, Institutions, and Interactions (Lionel Robbins Lectures, October 2000)

What Hides Behind an Unemployment Rate: Comparing Portuguese and U.S. Labor Markets
with Pedro
Portugal
April 2000

What Hides Behind an Unemployment Rate: Comparing Portuguese and U.S. Labor Markets (Data Appendix)

Wage Dynamics: Reconciling Theory and Evidence
with Larry Katz
January 1999

The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence, Harry Johnson Lecture
with Justin Wolfers
March 1999

The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence, Harry Johnson Lecture (Link to Data and Appendix)

The Role of Shocks and Institutions in the Rise of European Unemployment, Baffi Lecture
January 1999

Revisiting European unemployment: Unemployment, capital accumulation, and factor prices, Geary Lecture
May 1998

The Medium Run
September 1997

Medium Run Data Set

Regulation, Deregulation, and Reforms

Is There A Viable European Social and Economic Model
July 2006

The Many Dimensions of Work, Leisure, and Employment: Thoughts at the End of the Conference
July 2006, Comments on the papers presented at the Rodolfo DeBenedetti Conference, Portovenere, June 2006.

The Economic Future of Europe
Olivier Blanchard
May 2004, Forthcoming, Journal of Economic Perspectives

Designing Labor Market Institutions II
March 2004

L'Europe ne va pas si mal
Olivier Blanchard
July 2004, French adaptation of "The Economic Future of Europe"

Contours of employment protection reform
with Jean Tirole
November 2003

The Optimal Design of Unemployment Insurance and Employment Protection. A First Pass.
Olivier Blanchard and Jean Tirole
April 2004

Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets,
with Francesco Giavazzi
October 2002

The Perverse Effects of Partial Labor Market Reform: Fixed Duration Contracts in France
with Augustin Landier
June 2000

Transition

Federalism With and Without Political Centralization: China vs. Russia
with Andrei Shleifer
October 2000

Odds and Ends

Comments on "Credit Frictions and Optimal Monetary Policy" by Curdia and Woodford
August 2008

Discussion of 'Macroeconomic Crises since 1970' , by Robert Barro and Jose Ursua

Monetary Policy, Labor Markets, and Fiscal Policy
Remarks at the 50th Anniversary of the Bundesbank Conference in September 2007

Preface to "Global Imbalances. Is the World Economy Really at Risk?" by Anton Brender and Florence Pisani
Olivier Blanchard
February 2007

Discussion of "The Return to Capital in China" by Chong-En Bai, Chang-Tai Hsieh, Yigyi Qian, Zhenjie Qian
Olivier Blanchard
December 2006

Crowding Out
Olivier Blanchard
November 2006, The New Palgrave Dictionary of Economics, 2nd edition

Neoclassical Synthesis
Olivier Blanchard
November 2006, The New Palgrave Dictionary of Economics, 2nd edition

Discussion of "Do Taxes Explain European Employment? Invisible Labor, Human Capital, Lotteries, and Savings"
Lars Ljungqvist and Thomas Sargent
July 2006

Comments on "Contrasting Europe's Decline; Do Product Market Reforms Help?" by Riccardo Faini et al.
January 2005

" Comments on Alan Blinder's 'The Case Against the Case Against Discretionary Policy' "
June 2004

Interview with Stanley Fischer
Macroeconomic Dynamics, vol. 9, no. 2, 2005, pp. 244-262.

Comments on:
"The price level, relative prices, and economic stability: Aspects of the inter-war debate," by David Laidler
June 2003

Comments on:
"The Case
of Missing Productivity Growth; or, Why Has Productivity Accelerated in the
United States but not the United Kingdom" by Basu et al
July 2003

Designing Labor Market Institutions
remarks at the Conference "Beyond Transition", Warsaw
April 2002

Comments on:
"Catching Up with the Leaders: The Irish Hare" by Patrick Honohan and Brendan Walsh.
April 2002

Comments on:
"Institutions, Economic Structure, and Performance: Is Italy Doomed?" by Guiseppe Nicoletti.
April 2002

"The EU Enlargement, and Immigration from Eastern Europe"
Comments at a Conference on Immigration, Trieste
2001

Comments on:
"Do We Really Know that Oil Caused the Great Stagflation? A Monetary Alternative", Barsky and Kilian
July 2001

Comments on:
"The International Lender of Last Resort: How Large is Large Enough?" by Olivier Jeanne and Charles Wyplosz, NBER Conference in Monterey CA
March 2001

In Honor of Andrei Shleifer: Winner of the John Bates Clark Medal
June 2000

In Honor of Andrei Shleifer: Winner of the John Bates Clark Medal (Photo mentioned in Section 5 of text)

What Do We Know about Macroeconomics that Fisher and Wicksell Did Not?
January 2000

"The Future of Unions", Comments at a conference in Naples, Italy,
July 2000