Finance and Economics Discussion Series: Monetary Policy in Deflation: The Liquidity Trap in History and Practice by Athanasios Orphanides

Finance and Economics Discussion Series: Monetary Policy in Deflation: The Liquidity Trap in History and Practice

Athanasios Orphanides

40 pages missing pub info (editions)

nonfiction politics
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The experience of the U.S. economy during the mid-1930s, when short-term nominal interest rates were continuously close to zero, is sometimes taken as evidence that monetary policy was ineffective and the economy was in a "liquidity trap." Close e...

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