Atkinson, Paul E.; Blundell-Wignall, Adrian - In: Journal of risk and financial management : JRFM 15 (2022) 2, pp. 1-17
What problem the Fed and other central banks are solving by printing money and letting interest rates fall to zero is the focus of this paper. This activity does not appear to affect nominal GDP or inflation prior to COVID, and yet central bank liabilities have continued to rise. This suggests...
