|Japan and the EU’s
central banks’ monetary policy in
If the Great Moderation has long gone, and the Great
Recession is (kind of) over, exactly what era are we living in
Counsel and industry in the Americas might like to mull that
over. After 2008, nothing went back to normal. Maybe that's to
be expected after so long a downturn. But the formerly
reassuring worlds of central banking, financial regulation and
commerce have, too, all become increasingly bizarre.
There are three broad oddities to ponder.
First is economic policy. After 2008, monetary and fiscal