Gavyn Davies on Inflation, Asset Allocation and ChatGPT
Macro Hive Conversations With Bilal Hafeez
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The Importance of Supply Side Economics in Productivity Growth
I don't think macroeconomists have been very good at influencing productivity growth. Most chancellors have had productivity objectives and the productivity growth rate is continued as usual in the face of most of it. In the Truss case, she clearly believed that low taxation would boost British productivity growth. But where she went wrong, I think, was just ignoring the confidence effects.
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