Henry Curr on the Myths and Uncomfortable Truths about QE
Macro Musings with David Beckworth
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The Importance of Permanency
I think that you have to tell a story where that gets kind of crowded out by the long term interest rate in the absence of c e. And i'm not sure i believe that. But what are your thoughts? I think you're writing both had to be done. It was a complimentary action. In japan, they did something very similar. They ran large budget deficits for many years,. They also had the original c e, but it didn't make any difference at the end of the day.They still had deflection. So if it is permanent, i think maybe you're back to signalling. You can have an increase in liabilities, just have them be bombs, not central
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