Deflationary Bubbles
收藏NBER2004-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w10642
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资源简介：
We analyse deflationary bubbles in a model where money is the only financial asset. We show that such bubbles are consistent with the household's transversality condition if and only if the nominal money stock is falling. Our results are in sharp contrast to those in several prominent contributions
提供机构：
美国国家经济研究局
创建时间：
2004-07-01
