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The Marginal Impact Of The Three Trillion Dollar Experiment

Tuesday, February 4, 2014 - 8:52 AM
"A recent paper "Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound" by Jing Cynthia Wu and Fan Dora Zia uses a mathematical model to measure the impact of the Federal Reserve's long-term experiment with zero interest rates on the economy, particularly whether unconventional monetary policy has achieved the Fed's goal of lowering the unemployment rate.  While the paper itself leans strongly toward the academic community, its conclusion is rather stunning."

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