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Various Kinds Of Monetary Policy Which The ECB Doesn’t Have

There is recurrent talk about Helicopter Money, a concept conceived by Friedman to revive the economy. This kind of monetary policy is very often referered to as special, beyond the frontiers of accounting, as if a central bank could actually get into a helicopter every day and drop bills from the sky “ex nihilo,” out of nothing. But as Cullen Roche explains, HM is not special.