Public Debt as Private Liquidity: Optimal Policy
收藏NBER2016-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w22794
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资源简介：
We study optimal policy in an economy in which public debt is used as collateral or liquidity buffer. Issuing more public debt raises welfare by easing the underlying financial friction; but this easing lowers the liquidity premium and increases the governments cost of borrowing. These
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美国国家经济研究局创建时间：
2016-11-01
