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210308 ||| eng |
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|a 9781108904292
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050 |
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4 |
|a HG1811
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100 |
1 |
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|a Buiter, Willem
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245 |
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|a Central banks as fiscal players
|b the drivers of fiscal and monetary policy space
|c Willem Buiter
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260 |
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|a Cambridge
|b Cambridge University Press
|c 2021
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300 |
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|a xi, 215 pages
|b digital
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653 |
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|a Banks and banking, Central
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653 |
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|a Monetary policy
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041 |
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7 |
|a eng
|2 ISO 639-2
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989 |
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|b CBO
|a Cambridge Books Online
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490 |
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|a Federico Caffè lectures
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856 |
4 |
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|u https://doi.org/10.1017/9781108904292
|x Verlag
|3 Volltext
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082 |
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|a 332.112
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520 |
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|a It is well known that the balance sheets of most major central banks significantly expanded in the aftermath of the financial crisis of 2007-2011, but the consequences of this expansion are not well understood. This book develops a unified framework to explain how and why central bank balance sheets have expanded and what this shift means for fiscal and monetary policy. Buiter addresses a number of key issues in monetary economics and public finance, including how helicopter money works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal theory of the price level is a fallacy and how to escape from the zero lower bound
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