Why Negative Nominal Interest Rates Miss the Point, Part II—Understanding the Excess Reserve Tax

By Scott Fullwiler My previous post critiquing Scott Sumner’s (and others’) proposal for negative nominal interest rates brought a most welcome response from Prof. Sumner in the comments section. The comments section has a character limit that I’m sure to … Continue reading Why Negative Nominal Interest Rates Miss the Point, Part II—Understanding the Excess Reserve Tax