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by JanisL
1661 days ago
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It would seem that the temptation to set the price of everything is increased when there are impediments to setting the interest rate (since this removes an important monetary policy lever). I think this has been seen lately as the zero-lower-bound on nominal interest rates has started to come into play in many places. |
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Heh, looks familiar. Usually goes between "Some people know..." and "...but the value of nothing".