A Theory of Payments-Chain Crises
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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
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美国国家经济研究局创建时间：
2023-01-01
