EFTA Document EFTA01377494

We muttons PK' be NthPI IrnottnWit (refit itghta ASSe+.4:K.SINrcpocti•dos PC/M31.0 1401../rper:;h31114“1 Focus The limits to monetary policy Central banks were seen as saviors during the financial crisis. Where does their power end? The interaction of power and markets has always been an issue for economists. A hundred years ago, for example, they argued that, in the long run, wages should be determined by demand and supply and not by industrial relations. They realized that market