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The very low interest rates and inflation rates of recent years has generated renewed interest in alternative policies that would not leave central banks trapped by the zero lower bound on nominal interest rates. Amongst this debate, surprisingly little attention has been paid to the possibility...
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legislation had been in place for the past 60 years. When would the Fed have been in compliance, and when would there have been … during the first half of the 2010s, and vice versa. If the legislation was adopted and the Fed wanted to avoid deviations …
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