Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms
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Traditional economic models have had difficulty explaining the non-monotonic real effects of credit booms and, in particular, why they have predictable negative after-effects for up to a decade. We provide a systematic transmission mechanism by focusing on the flows of resources between borrowers
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美国国家经济研究局创建时间：
2018-04-01
