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5. A. Discuss the main points of agreement that led to the monetary policy consensus of the 1990s and early 2000s and discuss the implications

5.

A. Discuss the main points of agreement that led to the monetary policy consensus of the 1990s and early 2000s and discuss the implications of this consensus for the conduct of monetary policy. [70 marks]

B. In what ways has the period following the Great Recession of 2008 led to a rethink of this consensus? [30 marks]

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