Monetary Policy in Economies with Little or No Money
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The paper's arguments include: (1) Medium-of-exchange money will not disappear in the foreseeable future, although the quantity of base money may continue to decline. (2) In economies with very little money (e.g., no currency but bank settlement balances at the central bank), monetary policy will be
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美国国家经济研究局创建时间：
2003-07-01
