by Summary:
Promising to do “whatever it takes” in order to avert a bad equilibrium is very different from printing money when the problem is a lack of resources, or their distribution. See Gilles Saint-Paul’s “Whatever it Takes.”
Topics:
Dirk Niepelt considers the following as important: Contributions, Monetary Policy, Multiple equilibria, Notes, Resource constraint, Transfer, Transfer union, whatever it takes
This could be interesting, too:
Promising to do “whatever it takes” in order to avert a bad equilibrium is very different from printing money when the problem is a lack of resources, or their distribution. See Gilles Saint-Paul’s “Whatever it Takes.”
Topics:
Dirk Niepelt considers the following as important: Contributions, Monetary Policy, Multiple equilibria, Notes, Resource constraint, Transfer, Transfer union, whatever it takes
This could be interesting, too:
Dirk Niepelt writes Does the US Administration Prohibit the Use of Reserves?
Dirk Niepelt writes “Pricing Liquidity Support: A PLB for Switzerland” (with Cyril Monnet and Remo Taudien), UniBe DP, 2025
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Promising to do “whatever it takes” in order to avert a bad equilibrium is very different from printing money when the problem is a lack of resources, or their distribution.
See Gilles Saint-Paul’s “Whatever it Takes.”