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| Author: | Lilico, A. |
| Title: | The liquidity trap and price-level targeting |
| Journal: | Economic Affairs
2002 : JUN, VOL. 22:2, p. 47-52 |
| Index terms: | Liquidity Finance Inflation |
| Language: | eng |
| Abstract: | This paper discusses the liquidity trap and why Keynesian fiscal expansion is not the way out. Inflation-targeting is argued to make things worse, but price-level targeting evades the trap altogether. |
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