A Macroeconomic Model with Financially Constrained Producers and Intermediaries
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How much capital should financial intermediaries hold? We propose a general equilibrium model with a financial sector that makes risky long-term loans to firms, funded by deposits from savers. Government guarantees create a role for bank capital regulation. The model captures the sharp and
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美国国家经济研究局创建时间：
2018-06-01
