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Olivier Blanchard

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Lauriane Gross

on 6 February 2014

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Transcript of Olivier Blanchard

Olivier Blanchard
Work experience
Assistant professor and then associate professor at Harvard University between 1977 and 1983
Assistant professor, and then professor at MIT
Chairman of the Economics Department at MIT from 1998 to 2003
Adviser for the Federal Reserve banks of Boston and New York
His current position of service at the International Monetary Fund (IMF) is as Economic Counselor and director of Research
He is a fellow and Council member of the Econometric Society, a past vice president of the American Economic Association, and a member of the American Academy of Sciences.

He is one of the most prolific French scientists with fifteen books and over 150 articles.
He has written, with Stanley Fischer, a reference manual about macroeconomics, called Lectures on Macroeconomics.

He is a new Keynesians, specialist in labor economics (nature of the labor market, the role of institutions, creating unemployment).

He has worked extensively on the unemployment situation in Europe. In 1986, he proposed a mechanism hysteresis.

He also studied the role of monetary policy and the transition of former socialist countries to the market economy.
Born on December 27th 1948
Married to Noëlle Golinelli since 1973, 3 children
Private life
Student in economics and mathematics
Earned his bachelor at Paris Dauphine University
PhD at MIT (Massachusetts Institute of Technology) in 1977



In 1987, with Nobuhiro Kiyotaki, he demonstrated the importance of monopolistic competition. Most New Keynesian macroeconomic models now assume monopolistic competition for the reasons outlined by them.
Can monopolistic competition, by itself, explain why aggregate demand affects output?
Can it, together with other imperfections, generate effects of aggregate demand in a way that perfect competition cannot?
If so, can it give an accurate account of the response of the economy to aggregate demand movements?

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