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Unreliable gold

Chris Dillow

Chris Dillow
Unreliable gold

Economic policy uncertainty has been high in recent months, thanks to Brexit, the election of Donald Trump and the inconclusive UK general election result. This isn't merely a casual impression. It's quantifiable. Scott Baker, Nick Bloom and Steven Davis have compiled indices of policy uncertainty. In the past 12 months, their index of global uncertainty has been twice as high as its average from 1997 (when their data began) to 2015.

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