da Costa: “monetary policy … may have little or no effect on the flow of aggregate demand.”

Summary:
This is false; monetary policy has a very significant effect on economic activity... more than is generally understood."The serious flaw in monetary policy is that it may have little or no effect on the flow of aggregate demand." https://t.co/lVtSqAtghR— Pedro da Costa (@pdacosta) January 5, 2018

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