“The reality is that unconventional monetary policy is difficult, perceived as risky, and never pursued with the vigor of conventional monetary policy.”
--Paul Krugman, NYT, March 17, 2010
"Reducing policy interest rates to the zero bound fails to stimulate credit supply and demand in a ‘balance sheet recession’ in which the private sector is deleveraging."
--Adair Turner, 20 May, 2013
No comments:
Post a Comment