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The Theory of Unconventional Monetary Policy

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NBER2016-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w22135
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This paper is about the effectiveness of qualitative easing, a form of unconventional monetary policy that changes the risk composition of the central bank balance sheet with the goal of stabilizing economic activity. We construct a general equilibrium model where agents have rational expectations
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2016-04-01
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