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Sovereigns versus Banks: Credit, Crises, and Consequences

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NBER2013-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w19506
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Two separate narratives have emerged in the wake of the Global Financial Crisis. One interpretation speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and worries
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2013-10-01
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