Endogenous Credit Cycles
收藏NBER2011-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w17510
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资源简介：
We study models of credit with limited commitment, which implies endogenous borrowing constraints. We show that there are multiple stationary equilibria, as well as nonstationary equilibria, including some that display deterministic cyclic and chaotic dynamics. There are also stochastic (sunspot)
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美国国家经济研究局创建时间：
2011-10-01
