Claims the outbreak of inflation in many economies is due to mistakes made by central banks.

It comes in the form of a new paper, co-authored by former governor of the Reserve Bank of New Zealand Graeme Wheeler, and the New Zealand Initiative's Dr. Bryce Wilkinson.

They say central banks overall were too confident about their monetary policy framework and thought they could control output and employment.

It also points out central banks were distracted by extraneous political objectives, like climate change.

Dr. Bryce Wilkinson joined Mike Hosking.

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