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Great stuff from Robert Hall. The theory and art of making monetary policy continues to evolve before our very eyes.
www.voxeu.org/index.php?q=node/3444
"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
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