Dark Corners

At the 2016 Marc Sumerlin Lecture, Olivier Blanchard argues that the global financial crisis has made economists much more aware of a number of important nonlinearities and discusses how this should influence model design and macrofinancial policies.

The lecture presentation available below for download is an updated version of slides originally presented at the American Economic Association/American Financial Association meetings in 2015. The full 2016 lecture at Johns Hopkins University can be viewed on YouTube.