Abstract:Over the past decade, central banks in a majority of developed countries injected astonishing amounts of money into national and international economies in the hope of helping real sectors and with worries of high inflation. Neither of these came true. This paper describes the reasons for such unusual dynamics using a case of the sustainable economy. The three factors considered include the increased propensity to save, the decreased money multiplier, and substantial growth in the financial markets. The mathem… Show more
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