Macro Musings with David Beckworth cover image

Gianluca Benigno on the Basics and Policy Functionality of R** and the Dollar’s Imperial Circle

Macro Musings with David Beckworth

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The Importance of Liquidity in Macroeconomic Stabilization

John Luke: I want to go from that point you've made and jump ahead to a paper. And we're talking about the standard New Keynesian model. And in this paper, you kind of add this perspective that liquidity matters as well. He says it's very important to keep in mind the role of liquidity for financial stability considerations.

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