David Beckworth on the Safe Asset Theory of Inflation, Comparing Central Bank Frameworks, and a Year of Macro Musings in Review
Macro Musings with David Beckworth
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What Are the Forces Driving the Money Demand?
The aging of advanced economies is also the agint of china. Japan has had demographic problems for a long time now, and all tat has done is increased demand for these securities. You're going to be substituting out of equities or other securities into safer ones. Out of dod frank banks have to hold more safe assets. Other institutions as well. There's been some other stories. I mean, income and equality, there's the argument there that maybe that's driving part of it. And then maybe the last thing id mention is financial innovation. Until you've touched on this in your work, and maybe financial innovation really just the way stating what we've covered. O man
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