In earlier parts of our interview with
Another popular topic right now is
In this segment, Krugman explains that one of the problems with modern central banking is that people believe their too credible in their desire to stamp out inflation when it starts to pick up. So in other words, the Central Bank may say it will let growth and inflation run hot for awhile (so that nominal GDP can catch up to trend) but nobody believes that they'll actually do that.
What Japan may be in the process of doing -- by having the
Watch below.
Produced by Business Insider