Olivier Blanchard To Leave IMF

Chris Gilles reports in the FT about Olivier Blanchard’s plans to retire as IMF chief economist. Olivier emphasized the importance of academic research and challenged the Washington consensus. Under his watch, the IMF

  • questioned the benefits of unrestricted capital flows;
  • suggested higher inflation targets;
  • emphasized costs of “austerity.”

As the article points out not all of these initiatives were successful.