"John Maynard Keynes first raised the question of what can be done to stabilize the economy when it has fallen into a liquidity trap-when interest rates have fallen to a level below which they cannot be driven by further monetary expansion-and whether monetary policy can be effective at all under such circumstances. Long treated as a mere theoretical curiosity, Keynes's question now appears to be one of urgent practical importance, but one with which theorists have become unfamiliar."
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Historians from EnglandPhilosophers from EnglandUniversity of Cambridge facultyEconomists from EnglandSociologists from England
Original Language: English
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Sources
Gauti B. Eggertsson and Michael Woodford, "The Zero Bound on Interest Rates and Optimal Monetary Policy" (2003)
https://en.wikiquote.org/wiki/John_Maynard_Keynes
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John Maynard Keynes
1883 – 1946
Britischer Nationalökonom
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