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How far to go – and to remain – in the direction of highly expansionary monetary policy hinges on the balance of marginal benefits and costs of additional monetary easing and its expected evolution over time. This paper sketches a framework for assessing this balance and applies it to four...
Persistent link: https://www.econbiz.de/10010231107
, with potential global spillovers, as was already experienced in mid-2013 when the mere discussion of tapering unsettled … bond yield shock would not have large trade spillovers in the absence of crisis events in the United States or abroad, an … spillovers given their generally less liquid financial markets and, in some cases, weak fundamentals related to the banking …
Persistent link: https://www.econbiz.de/10010374407