The Macro Economic Environment: New Normal


Is This Time Any Different?

Written on May 9, 2012 at 8:33 pm, by

Our discussion on the New Normal and the Post-Financial Crisis centers chiefly around two important publications. The New Normal label was developed by Mohamed El-Erian, CEO of America’s largest asset manager, PIMCO. The second conceptual position is drawn from Reinhart & Rogoff’s, This Time is Different. El-Erian put his concept together in 2008-2009 period and Reinhart and Rogoff in early 2010. They have been mostly right thus far into 2012.