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"John Law's System was a radical restructuring of French public finances, carried out from 1716 to 1720. It involved on the one hand a conversion of the existing French public debt into something like government equity, on the other hand the replacement of commodity money with fiat money. For...
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netting privileges enjoyed by derivatives are essential to reducing legal uncertainty, increasing liquidity, and minimizing …
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Remarks by Charles L. Evans, President and Chief Executive Officer,Federal Reserve Bank of Chicago Czech National Bank Prague, Czech Republic
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large increases of liquidity adopted by the government. The policy implications are in sharp contrast with the prevalent … view in most Central Banks, based on the New Keynesian explanation of the liquidity trap. …
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