Michael Kumhof, Jason Allen, Will Bateman, Rosa Lastra, Simon Gleeson, Saule Omarova on this fascinating working paper on rebuilding macroeocnomics web site: Primarily based on authorized arguments, we advocate a conceptual and normative shift in our understanding of the financial character of central financial institution cash (CBM). The widespread remedy of CBM as a central financial institution legal responsibility goes […]

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