Quantitative easing is an incomplete strategy that must be accompanied by the nullification of debt
AbstractCompound interest as well as inflation grows exponentially with time, whereas other means to repay debt grow polynomially. For this and other, mostly political, reasons, debt without inflation is unsustainable. We suggest a discontinuous way to eliminate debt by nullifying it. This scenario is preferable to current central bank strategies of quantitative easing because it allows the disposal of debt without hyperinflation or bloated balance sheets.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1303.6183.
Date of creation: Mar 2013
Date of revision: Apr 2013
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Web page: http://arxiv.org/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-30 (All new papers)
- NEP-HIS-2013-03-30 (Business, Economic & Financial History)
- NEP-MAC-2013-03-30 (Macroeconomics)
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