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The Recession Paradox | Alfonso Peccatiello
Forward Guidance
The Effect of Bank Reserves on Credit Creation
The action of you taking the mortgage on, that's the credit creation. That's the real economy money. The bank buying the bond, well, the bank can buy the bond through the use of more reserves being created or they can fund the purchase through the repo market. But the corporate wouldn't be able to lever up if yields weren't to low. So it takes 2D tango. You're right. Yes.
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