When should policymakers reach for the history books? Some examples from the 20th century
BankUnderground
JUNE 16, 2021
In short, history counsels caution’ Macmillan (2008) : ‘the past can be used for almost anything you want to do in the present’ Bernanke et al (2019) : ‘Financial crises recur in part because memories fade’ Perhaps we need to think beyond just crises when we consider how history can be helpful to central bankers.
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