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The 'BHARAT TEX 2024', the country's largest textiles mega event, saw the participation of 3,000 buyers from over 100 countries, with global experts discussing various cloth brands and sustainability imperatives.
"Macroeconomic models used by central banks so far have mainly focused on the demand side of the economy,'' Governor Shaktikanta Das told the 59th South East Asian Central Banks Governors' Conference held in Mumbai. "Enough emphasis was not given on supply side factors. A better understanding of the supply side of the economy has become very important for conducting monetary policy more effectively."
"Macroeconomic models used by central banks so far have mainly focused on the demand side of the economy,'' Governor Shaktikanta Das told the 59th South East Asian Central Banks Governors' Conference held in Mumbai. "Enough emphasis was not given on supply side factors. A better understanding of the supply side of the economy has become very important for conducting monetary policy more effectively."
Economic models help economists focus on relevant variables, but they can let us down and there’s a case for relying more on alternative approaches and subjective human judgement.
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