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Guest post: Why we need the European Central Bank as Lender and Owner of Last...
THIS IS A GUEST POST By Arash Molavi Vasséi Why we need the European Central Bank as Lender and Owner of Last Resort This post summarizes a short policy note where I argue that the only feasible as...
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“Monetary Policy, Financial Stability, and the Distribution of Risk”
I have recently been giving a lot of attention to the work of David Eagle and his Arrow-Debreu based analysis of monetary policy rules. This is because I think David’s work provides a microfoundation...
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