November 28, 2015

INDEED, USURIOUS:

The Trouble With Interest Rates (J. Bradford DeLong, NOV 28, 2015 , Project Syndicate)

Given real economic conditions, European and American monetary policy is not too loose; if anything, it is too restrictive. The "natural" interest - what would be ground out by the Walrasian system of general equilibrium equations - is actually lower than what current monetary policy is producing. 

Posted by at November 28, 2015 9:35 PM

  

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