Paul Krugman on the Year of Inflation Infamy
Macro Musings with David Beckworth
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Did Things Actually Happen the Way You Said They Would?
The world could have been a much worse place if not for aggressive monetary policy, says Paul Romer. The central bank's balance sheet is really useless when interest rates are very low and don't worry about the money supply,. Do not worry about inflationary impacts from monetory expansion. Keeping nominal income stable was very important to accomplishing that outcome. And fistal policy turns out to be much more durable than i realized, although still problematic.
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