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This paper shows that remunerating required reserves can increase the flexibility of monetary policy. The remuneration at the current repo rate implies constant net marginal interest costs of holding required reserves. This allows the central bank also to change the rate also within a reserve...
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Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …
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The fiscal theory of the price level (FTPL) solves puzzles raised by standard monetary theories. FTPL is forward looking and dynamic, and investors can use it to calculate the value of “money” through discounted free cash flow analysis
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