To Survive Disasters, You Need Smiles (guest: Steve Hou)
The Market Huddle
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Is That a Wallace Sergeant Paper?
Wallace Sergeant was a Nobel laureate with Chris Sims. He wrote this, I think it was unpublished in working paper when he was at the Minnesota Fed. They basically did some, you know, sort of, simple modeling to make this point,. That you can have these two regimes. Right? And so we get to this point where the central bank is forced to do yield curve control or is, what was the second part of it again?
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