Central bankers need to address problem of ‘groupthink’, says Shiller
Central bankers and their advisers on policy committees that harbour intuitive concerns about collective decisions should not hold back from expressing their fears, according to Robert Shiller, a professor of economics at Yale University.
Shiller, speaking in an interview published in the May edition of the Central Banking Journal, said senior central bankers, such as those sitting on the Federal Open Markets Committee prior to the global financial crisis, failed to express concerns about the
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