In 2017, @ioannidou_vasso , Igor Goncharov, and I wrote a paper about why central banks care about their profits (or losses). In 2024, the Fed announced an annual loss of $113bn for 2023. https://t.co/xlJMXnWe9m https://t.co/5BRUsB2Vi2
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RT @masumasu033: メモ:中央銀行の裁量会計とエージェンシー問題について https://t.co/wIXAWGWHpB
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メモ:中央銀行の裁量会計とエージェンシー問題について https://t.co/wIXAWGWHpB
1,824 followers
"there are agency problems at central banks, which give rise to discontinuous profit incentives that correlate with central banks’ policy choices and outcomes" https://t.co/O5OeoAtser https://t.co/O2sSAEKQGS