Whither Central Banking? (Summers & Stansbury)

Whither central banking? by Lawrence H. Summers and Anna Stansbury published by Project Syndicate (8/2019). “In an environment of secular stagnation in the developed economies, central bankers’ ingenuity in loosening monetary policy is exactly what is not needed. What is needed are admissions of impotence, in order to spur efforts by governments to promote demand through fiscal policies and other means.”

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