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Heterogeneity in Macroeconomics and its Implications for Monetary Policy

Schnell, Fabian - 2015

Fabian Schnell develops a model indicating that by keeping real interest rates too low, monetary policy can distort the allocation of resources across firms and potentially delay economic recovery after a recession. This is a new channel of monetary policy that is especially relevant in view of...

Persistent link: https://www.econbiz.de/10012402085

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