Paul McCulley Archive
PIMCO on Japan
Inflation, Interest Rates, Japan
Jan 11, 2010
[Skip to the end] > > (email exchange) > > On Mon, Jan 11, 2010 at 9:43 AM, Wray, Randall wrote: > > This passage is particularly embarrassing: > Conventional wisdom holds that the most effective way to break a liquidity trap is with > fiscal policy, levering up and risking up the sovereign’s balance sheet to
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