EFTA Document EFTA01388569

The limits of monetary policy '23 .'season' ■ 803 100 ... 00.II,vocut e0 SO 40 • 9.3E • Era ■Frxr 9oF faecal: Er:8 tott:aft ;ad tow air $r..:rroctr Eil:nr,*cra Nm,: . owatila Ain't Mastgerrwr ImoiEreent 01 ca.tai e All of which makes it rather odd that so many hopes should still rest on central banks. After all, Japan already tried OE from March 2001 to March 2006. According to most empirical studies, this was of limited help in either boosting output or inflation. Indeed, it