Loan Commitments and Optimal Monetary Policy
收藏NBER1996-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w5660
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With loan commitments negotiated in advance, the use of tight money to restrain nominal spending has asymmetric effects upon different categories of borrowers. This can reduce efficiency, even though aggregate demand is stabilized. This is illustrated in the context of an equilibrium model of
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美国国家经济研究局创建时间：
1996-07-01
