Are the Effects of Monetary Policy Asymmetric
The Richmond Fed wants to know.
As part of the 'easing' the Fed lets the queues get longer at the curve. The distribution of queue size becomes symmetric. You can see it in the two Poisson distributions. I think the queue goes symmetric as flow (multiplier) goes low. The smaller the queue the sharper is our feeling of deja vu.
As part of the 'easing' the Fed lets the queues get longer at the curve. The distribution of queue size becomes symmetric. You can see it in the two Poisson distributions. I think the queue goes symmetric as flow (multiplier) goes low. The smaller the queue the sharper is our feeling of deja vu.
It will take a few hundred years to work the queue back down, so expect a helicopter.
No comments:
Post a Comment