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Should We Penalize Liquidity Preference?

CrossingWallStreet.com found this 12/1/2008 on econlog.econlib.org

(November 30, 2008 02:38 PM, by Arnold Kling) Greg Mankiw says that it is time to re-read Keynes, and Tyler Cowen is ready to take him up on it. One important Keynesian idea is liquidity preference. In textbooks, an increase in liquidity preference means that people want to...