September 16, 2021

Bruegel Publications

Platform mergers and antitrust

BY innovation, Digital economy, Innovation & Competition Policy, Bruegel

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Bruegel Institute

Originally published on by Bruegel Institute. Link to original report

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Published by Oxford University Press in association with Oxford University Press and the
Industrial and Corporate Change Association.

Read the full paper published in Industrial and Corporate Change by Oxford University Press. 

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( 11 mins) Between 2007 and 2020, the balance sheets of the European Central Bank, the Bank of Japan, and the Fed have all increased about sevenfold. But inflation stayed low throughout the 2010s. This was possible due to decreasing money velocity and the money multiplier. However, a continuation of asset purchasing programs by central banks involves the risk of higher inflation and fiscal dominance.

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