A Theory of Payments-Chain Crises
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下载链接：
https://www.nber.org/papers/w30859
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资源简介：
This paper introduces an endogenous network of payments chains into a business cycle model. Agents order production in bilateral relations. Some payments are executed immediately. Other payments, chained payments, are delayed until other payments are executed. Because production starts only after
提供机构：
美国国家经济研究局
创建时间：
2023-01-01
