The document discusses the limitations of monetary policy, particularly in the context of the financial crisis. It highlights the historical perspective on monetary policy, referencing economist Ludwig von Mises, and examines the role of central banks during financial crises. The analysis points out the challenges faced by central banks in managing credit booms and asset-price bubbles, and suggests that governments need to play a more active role in structural reforms to promote economic growth.
documents/EFTA01457958.pdf
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