Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
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We consider the effects of central-bank purchases of a risky asset, financed by issuing riskless nominal liabilities (reserves), as an additional dimension of policy alongside "conventional" monetary policy (central-bank control of the riskless nominal interest rate), in a general-equilibrium model
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美国国家经济研究局创建时间：
2013-12-01
