Faculty News
In a co-authored op-ed, Professor Michael Spence argues that quantitative easing (QE) has hindered business investments
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Excerpt from The Wall Street Journal -- "We believe that QE has redirected capital from the real domestic economy to financial assets at home and abroad. In this environment, it is hard to criticize companies that choose 'shareholder friendly' share buybacks over investment in a new factory. But public policy shouldn’t bias investments to paper assets over investments in the real economy."
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