Financial Intermediation and The Great Depression: A Multiple Equilibrium Interpretation
收藏NBER1995-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w5130
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资源简介：
This paper explores the behavior of the U.S. economy during the interwar period from the perspective of a model in which the existence of non-convexities in the intermediation process gives rise to a multiplicity of equilibria. The resulting indeterminancy is resolved through a sunspot process which
提供机构：
美国国家经济研究局
创建时间：
1995-05-01
