Zombie Lending and Policy Traps
收藏NBER2021-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w29606
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资源简介：
We model how accommodative policy can become trapped due to credit misallocation and its spillovers, as witnessed in Japan in the 1990s and in Europe in the 2010s. Following large negative shocks, the effective lower bound prevents stimulating bank lending through rate cuts. Unconventional policies
提供机构：
美国国家经济研究局
创建时间：
2021-12-01
