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March 2011 issue
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Commentary: Remarks on Unconventional Monetary Policy

by Lawrence Christiano
Northwestern University

Abstract

To be useful in discussions about the rationale and effectiveness of unconventional monetary policy, models of monetary economies need to be modified. Progress on this is well under way and I review one approach here.

JEL Codes: E42, E58.

 
Full article (PDF, 10 pages 406 kb)