Is There a Difference Between Central Bank Policies and the Real Economy?

In 19 eighties and 19 nineties, as the globalization really got into gear, that the major eeconomies around the world became more and more synchronized. I do suspect that that is reversing, and its reversing both in the real economy sense and in the monetory sense. We are reversing several decades of convergence and globilization. Demand shocks in the us may not pass so easily into the rest of the world. And you also seem to have greater divergences in an monetary policy,. So for example, globally, we have a much of the central banking community moving towards titam accommodated policy, but not the bank of japan.

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