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I Believe in Quantitative Easing

Lawrance G. Lux found this 12/17/2008 on econlog.econlib.org

(December 16, 2008 08:49 PM, by Arnold Kling) James Hamilton writes, Will [purchases of mortgage securities and other assets by the Fed] succeed if we just do it on a sufficiently large scale? I'm not at all convinced that it would. Our standard finance models treat interest rate...