To understand money supply growth, it is essential to distinguish between reserve creation and deposit creation. Garrett argues that referring to the Fed’s operations as 'money printing' is not merely ...
Journal of Money, Credit and Banking, Vol. 50, No. 5 (August 2018), pp. 1073-1094 (22 pages) I revisit the example of non-neutral anticipated monetary expansions used in Lucas (1995) Nobel Prize ...
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