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                    Cullen Roche @cullenroche
                  
                  
                    
                      ·
                      Jun 2, 2023
                    
                  
                
                
              All else equal, I think it’s marginally deflationary since it reduces pvt sector net income. But since it’s often done concurrent with changing rates or deficits people blame QE for things caused by rates and deficits. This paper is superb IMO.
               Paper
              
                Jul, 2018
              
            
          
          
          
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