BoE’s Taylor emphasises role of history in policy-making
MPC member says central banks should focus on recurring themes but avoid making crude analogies
Economic history offers valuable insights into monetary policy if central banks can draw the right lessons from it, a member of the Bank of England’s monetary policy committee (MPC) has said.
In a speech at a Banque de France conference on April 10, Alan Taylor shared his views on how economic history – his area of expertise as an academic – helped inform policy-making and vice versa.
“For a long time, the traffic on this street was relatively quiet, seen only here and there,” he said. “However
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