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#10: William White on the Undesired Side Effects of Experimental Monetary Policy
Superinvestors and the Art of Worldly Wisdom
The Unseen Side Effects of Easy Money
There is a long literature out there, right, about... VIXOL basically said that if you lower interest rates below the natural rate of interest, that you will get inflation. So I guess what VIXOL's conclusions don't do it. But subsequently there were all sorts of people who came along and said, well, that's not the only thing you have to worry about. We had Hayek, for example, back in the 1930s talking about real misallocations of resources. Richard Koo talked about balance sheet recessions. Ben Bernanke wrote something about this in the 1980s.
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