Peter Stella on the Quasi-Fiscal Implications of Central Bank Crisis Intervention
Macro Musings with David Beckworth
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The Importance of Market Value in Debt Burns
David Rothkopf: To do good economics, you want to use the market value. Oftentimes par value will work, but when you get into moments of big surprises and inflation, you want a better economic understanding. He says he became more convinced that the really big error was on the MBS purchases during the global financial crisis. "I'm going to go back and explain why I think what the Fed did during theglobal financial crisis was absolutely the right thing to do with regard to mortgage-backed securities"
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