The Limits To Quantitative Easing
Macrobits by Marshall Auerback » Germany 2015-07-01
Summary:
Take a look at this piece by the economist Michael Woodford from several months ago. It is heavy reading, but I think could become increasingly relevant (‘Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints’, NBER Working Paper 19711, http://www.nber.org/papers/w19711 … Continue reading →