Danielsson, Jon, Fouché, Morgane, Macrae, Robert, (2015), “The macro-micro conflict”, Voxeu, 20 Οκτωβρίου
There has always been conflict between macro- and microeconomic regulation. Microeconomic policy reigns supreme during good times, and macro during bad. This column explains that while the macro and micro objectives have always been present in regulatory design, their relative importance has varied according to the changing requirements of economic, financial and political cycles. The conflict between the two seems set to deepen and so, regardless of which ‘wins’, policymakers must not undermine the central bank’s execution of monetary policy.
Σχετικές Αναρτήσεις
- Acemoglu, D., Ozdaglar, A. & Tahbaz-Salehi, A. (2015) “Microeconomic origins of macroeconomic tail risks, VoxEU Organisation, 27 Μαρτίου.
- Thimann, Christian, (2015), “The Microeconomic Dimensions of the Eurozone Crisis and Why European Politics Cannot Solve Them”, Journal of Economic Perspectives, Issue 3, Volume 29, summer