The Financial Accelerator and the Flight to Quality
收藏NBER1994-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w4789
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Adverse shocks to the economy may be amplified by worsening credit-market conditions-- the financial 'accelerator'. Theoretically, we interpret the financial accelerator as resulting from endogenous changes over the business cycle in the agency costs of lending. An implication of the theory is that,
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美国国家经济研究局创建时间：
1994-07-01
