Frances Coppola: The Failure of Macroeconomics: “My beef is with macroeconomics… …Olivier Blanchard, the IMF’s chief economist, recently wrote: We in the field did think of the economy as roughly linear… fluctuating, but naturally returning to its steady state…. Blanchard went on to observe that… macroeconomists… [saw] extreme tail risk events… as a thing of … Continue reading Evening Must-Read: Frances Coppola: The Failure of Macroeconomics