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Principles of Economics Macroeconomics Monetary Orthodoxy

Explore the role of monetary orthodoxy in macroeconomics at the zero lower bound on interest rates. Delve into strategies like buying risky assets, shifting expectations, forward guidance, regime shifts, and the impact on US Treasury rates and quantitative easing.

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Principles of Economics Macroeconomics Monetary Orthodoxy

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  1. Principles of EconomicsMacroeconomicsMonetary Orthodoxy J. Bradford DeLong U.C. Berkeley

  2. At the Zero Lower Bound on Safe Nominal Interest Rates • So can the central bank do anything? • Buy risky assets • Shift expectations: • Of future policy and of inflation • Forward guidance • Regime shift

  3. U.S. Treasury Interest Rates

  4. Quantitative Easing

  5. The “Taper”

  6. “Taper Tantrum”

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