FRBSL — On the Economy
Debt Monetization: Then and Now
David Andolfatto, Vice President and Economist, and Andrew Spewak, Senior Research Associate
See also
Over-building as a factor?
FRBNY — Liberty Strteet
Quantities and Prices during the Housing Bust
Sonia Gilbukh and Paul Goldsmith-Pinkham
FRBNY — Liberty Strteet
Quantities and Prices during the Housing Bust
Sonia Gilbukh and Paul Goldsmith-Pinkham
1 comment:
"needs some work"
LOL Tom this is all monetarist BS....
"With the spread between interest rates so large, banks had more incentive to use their newfound reserves to make loans than to hold onto them."
This is dated T-O-D-A-Y not 2007... hello!
So all the MMT elite think that this belief of theirs has no ill effects??
"banks lend out the reserves!" is a benign belief to the MMT elite academe lefties?
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