The Case for Open-Market Purchases in a Liquidity Trap
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下载链接：
https://www.nber.org/papers/w9814
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资源简介：
Prevalent thinking about liquidity traps suggests that the perfect substitutability of money and bonds at a zero short-term nominal interest rate renders open-market operations ineffective for achieving macroeconomic stabilization goals. We show that even were this the case, there remains a powerful
提供机构：
美国国家经济研究局
创建时间：
2003-07-01
