Rational Sentiments and Economic Cycles
收藏NBER2020-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w27472
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资源简介：
We propose a rational model of endogenous cycles generated by the two-way interaction between credit market sentiments and real outcomes. Sentiments are high when most lenders optimally choose lax lending standards. This leads to low interest rates and high output growth, but also to the
提供机构：
美国国家经济研究局
创建时间：
2020-07-01
