Publications

Policy Note 2001/9 | September 2001

Hard Times, Easy Money?

The tools of countercyclical monetary policy have been brought fully to bear on a potentially severe recession. This note argues, however, that such a policy is less effective in times such as these—that is, when uncertainty is especially high—and so is likely to be particularly ineffective in combating the current economic slowdown.

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Author(s):
Robert E. Carpenter

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Policy Note 2022/3
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Author(s): Giuliano Toshiro Yajima
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