Tag Archives: Olivier Blanchard

NZZ, February 1, 2021. PDF. (Title changed by NZZ.) Do negative interest rates render government debt costless? No. What about r<g? I discuss Olivier Blanchard’s presidential address and the conclusions that columnists have drawn. For background: See this post.

On Fazit, Gerald Braunberger reviews the concept of “liquidity trap.” Keynes never used the term but Robertson did. Hicks introduced the common notion (represented, e.g., by a flat LM curve). Krugman talks about a different trap. So does Blanchard and he (incorrectly) attributes it to Keynes. So does Sinn.