The boom of 2022 and the failure of contrarianism
The global economy experienced an inflationary boom during 2022. Prices rose rapidly and unemployment fell close to historical lows. This is what happens when you get excessive demand stimulus—fast rising NGDP and high employment. So how did traditional models do in 2022? In a new Bloomberg column, Tyler Cowen points out that 2022 was a … Continue reading The boom of 2022 and the failure of contrarianism
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