Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
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Michael Woodford is a consultant for the Federal Reserve Bank of New York, a Scientific Advisor to Sveriges Riksbank, the central bank of Sweden, and a consultant to hedge funds and investment research firms.
Published From Paper
- Working Paper
We consider the effects of central-bank purchases of a risky asset, financed by issuing riskless nominal liabilities (...