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Money market funds, repo, and monetary policy: A mechanism design problem for the Fed – Synthetic Assets
https://syntheticassets.wordpress.com/2019/12/11/money-market-funds-repo-and-monetary-policy-a-mechanism-design-problem-for-the-fed/
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Before there were money market funds — and their finance of banks and big corporations borrowing on commercial paper and other wholesale markets — monetary policy in the US used to be i…
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