Optimal Public Debt Management and Liquidity Provision
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下载链接：
https://www.nber.org/papers/w18800
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资源简介：
We study the Ramsey policy problem in an economy in which firms face a collateral constraint. Issuing more public debt alleviates this friction by increasing the aggregate quantity of collateral. In so doing, however, the issuance of more debt also raises interest rates, which in turn increases the
提供机构：
美国国家经济研究局
创建时间：
2013-02-01
