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Interest on reserves, helicopter money and new monetary policy
We build a nonlinear dynamic model with currency, demand deposits and bank reserves. Monetary base is controlled by central bank, while money supply is determined by the interactions between central bank, commercial banks and public. In economic crises when banks cut loans, monetary policy following...
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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Public Library of Science
2021
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8289106/ https://www.ncbi.nlm.nih.gov/pubmed/34280205 http://dx.doi.org/10.1371/journal.pone.0253956 |