China’s stimulus in 2020 and 2009 are quite similar in scale but GDP has more than doubled -> proportional impact is far less. Also far less heavily focused on construction
ncbi.nlm.nih.gov/pmc/articles/P… https://t.co/W84ZLep7wC
RT @RobinBrooksIIF: Core inflation is a good fact-check for consensus output gaps. IMF (lhs) & European Commission (rhs) understated slack…
RT @RobinBrooksIIF: Core inflation is a good fact-check for consensus output gaps. IMF (lhs) & European Commission (rhs) understated slack…