Comment on "Pledgability and Liquidity: A New Monetarist Model of Financial and Macroeconomic Activity"
Chapter in NBER book NBER Macroeconomics Annual 2013, Volume 28 (2014), Jonathan A. Parker and Michael Woodford, editors (p. 271 - 278)
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I thank the National Science Foundation for financial support. The views expressed her are not those of the Federal Reserve Bank of Minneapolis or the Federal Reserve System..