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Monetary Policy in a Financial Crisis

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NBER2002-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w9005
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What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what conditions will a cut stimulate output and employment, and raise welfare? Under what conditions will a cut have the opposite e ffects? We answer these questions in a general class
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2002-06-01
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