Thinking Beyond the Crisis: Themes from the IMF’s 10th Annual Research Conference

The Mundell-Fleming lecture by Ricardo Caballero (MIT), presented to the IMF's 10th annual research conference, drew a striking parallel between a sudden cardiac arrest and a financial crisis. The best option during a sudden cardiac arrest is to use a defibrillator. Ricardo argued that, using the analogy between the two events, we need to have “financial defibrillators” readily available during financial crises as well.