Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome
收藏NBER2006-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12260
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This paper compares the equilibrium dynamics of an economy facing an aggregate collateral constraint on external debt to the dynamics of an economy facing a collateral constraint imposed at the level of each individual agent. The aggregate collateral constraint is intended to capture an environment
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美国国家经济研究局创建时间：
2006-05-01
