Central banks should prepare - both legally and operationally - to carry out direct transfers to households when conventional monetary policy fails. Recent research shows that stimulus payments would increase consumption even when interest rates are close to zero.

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16 December 2024

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Project Syndicate

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https://www.project-syndicate.org/commentary/central-banks-must-make-stimulus-payments-when-conventional-policy-fails-by-johannes-boehm-1-and-xavier-jaravel-2024-12

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