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The Recession Paradox | Alfonso Peccatiello
Forward Guidance
The Government's Responsibility for Fiscal Deficits
Government can decide on a ledger, on the liability side, whether they want the net worth for the private sector to be higher or lower. So governments print money, do fiscal deficits, basically. And they inject bank accounts into Jack's private sector. The government paid that by having the Fed Reserve transfer reserves from the TGA to the private banks.
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