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Monetary Policy in Economies with Little or No Money

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NBER2003-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w9838
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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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2003-07-01
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