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Stephanie Kelton

Stephanie Kelton

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Stephanie Kelton is a professor of economics and public policy at Stony Brook University. She is a leading expert on Modern Monetary Theory and a former Chief Economist on the U.S. Senate Budget Committee (Democratic staff).

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  1. sufi2_getty Images_graph Getty Images

    Could Ultra-Low Interest Rates Be Contractionary?

    Ernest Liu, et al.

    Although low interest rates have traditionally been viewed as positive for economic growth because they encourage businesses to invest in enhancing productivity, this may not be the case. Instead, Ernest Liu, Amir Sufi, and Atif Mian contend, extremely low rates may lead to slower growth by increasing market concentration and thus weakening firms' incentive to boost productivity.

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