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Monetary Realism. Understanding The Modern Monetary System....
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Monetary Realism – Understanding The Modern Monetary System…
An interesting post about finance semantics from John Cochrane (short and easy to read): http://johnhcochrane.blogspot.ca/2017/05/93-words-most-of-them-wrong.html In this post, he takes aim at some la...
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Month: May 2016 “Helicopter money” (HM) is a term invented by Milton Friedman to refer to the fantasy of a monetary authority (central bank) distributing money – ex nihilo, in the absence of any relat...
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John Cochrane’s “Monetary Policy with Interest on Reserves” – Monetary Realism
John Cochrane has written a very interesting paper on monetary policy under conditions of “abundant liquidity”, including substantial excess bank reserves and interest paid on those reserves (IOR). Th...
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