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 SNB Annual Report
Dirk Niepelt writes Banks and Privacy, U.S. vs Canada
Dirk Niepelt writes “Augenwischerei um SNB-Ausschüttungen (Misconceptions about SNB Distributions),” NZZ, 2024
Dirk Niepelt writes Bank of England CBDC Academic Advisory Group
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.”