Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Cliffe’

What Economists Still Need to Learn

Posted by hkarner - 11. September 2019

Date: 09-09-2019
Source: by Mark Cliffe

Mark Cliffe is Chief Economist and Head of Global Research of the ING Group.

More than a decade after the global financial crisis, macroeconomists have failed to absorb three crucial sets of lessons. Their models are still struggling – and mostly failing – to cope with disruptive change, and with the fact that both balance sheets and inequality matter.

AMSTERDAM – Macroeconomics was one of the casualties of the 2008 global financial crisis. Conventional macroeconomic models failed to predict the calamity or to provide a coherent explanation for it, and thus were unable to offer guidance on how to repair the damage. Despite this, much of the profession remains in denial, hankering for a return to “normal” and in effect treating the crisis as just a rude interruption.

That needs to change. Although an economic recovery has taken root, its structural fragilities suggest that macroeconomics is still in pressing need of an overhaul. Three sets of lessons from the past decade stand out. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »