Economics is gripped by its own mystery drama: why are central banks setting interest rates on the basis of a seemingly broken economic model?As mysteries go,it doesnt rank with Murder on the Orient Express or the identity of Gerald the mole in Tinker Tailor Soldier Spy but the economics profession is currently gripped by its own drama.
This anecdote won’t compose it to the silver screen with starring roles for Kenneth Branagh or Judi Dench, but a lot depends on how it ends. For central banks, and in particular,the question of Who Killed the Phillips Curve? is a nail-biter. They badly want to know how it ends.
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Source: guardian.co.uk