Warwick McKibbin: Are economic models useful in the global macroeconomic policy debate?

Professor Warwick J. McKibbin, ANU Chair in Public Policy, Centre for Applied Macroeconomic Analysis in the Crawford School of Public Policy, gives this talk titled Are economic models useful in the global macroeconomic policy debate? This video was recorded at ANU on 5 April 2013. This presentation outlines some key issues in the global economy and give insights into these questions using a global intertemporal general equilibrium model. Questions such as whether global fiscal consolidation would cause a global recession. Does the timing of policy adjustment matter? Does it matter in particular inside a monetary union like Europe versus outside a monetary union. What is the impact likely to be on third countries who don't need to adjust fiscal policies? How much do changes in risk perceptions matter? What if Europe split the Euro? Professor Warwick J. McKibbin has an ANU Chair in Public Policy in the ANU Centre for Applied Macroeconomic Analysis (CAMA) in the Crawford School of Public Policy at the Australian National University (ANU). He is also an ANU Public Policy Fellow; a Fellow of the Australian Academy of Social Sciences; a Distinguished Fellow of the Asia and Pacific Policy Society; a non-resident Senior Fellow at the Brookings Institution in Washington D.C (where he is co-Director of the Climate and Energy Economics Project). He was awarded the Centenary medal in 2003 'For Service to Australian Society through Economic Policy and Tertiary Education'.