This working paper was prepared for "The fiscal-monetary mix in an era of low interest rates," a June 2 event presented by the Hutchins Center on Fiscal and Monetary Policy at Brookings.
Professor in the Practice of Finance - Yale School of Management
Senior Associate Director of International Finance - Board of Governors of the Federal Reserve System
Associate Director of Monetary Affairs - Board of Governors of the Federal Reserve System
The authors did not receive financial support from any firm or person for this article or from any firm or person with a financial or political interest in this article. They are currently not an officer, director, or board member of any organization with an interest in this article.
Report Produced by The Hutchins Center on Fiscal and Monetary Policy