Must-Read: Òscar Jordà, Moritz Schularick, and Alan M. Taylor: Monetary Policy Medicine: Large Effects from Small Doses?: “How do we know that higher interest rates will bring prices under control?… http://www.frbsf.org/economic-research/publications/economic-letter/2017/april/monetary-policy-medicine-using-quasi-random-experiments/ …And how do we know how much of the monetary “medicine” to administer?… The long history of international finance turns out to be an … Continue reading Must-Read: Òscar Jordà, Moritz Schularick, and Alan M. Taylor: Monetary Policy Medicine: Large Effects from Small Doses?