Optimal Time-Consistent Macroprudential Policy
收藏NBER2013-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w19704
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资源简介：
Collateral constraints widely used in models of financial crises feature a pecuniary externality: Agents do not internalize how borrowing decisions taken in good times affect collateral prices during a crisis. We show that agents in a competitive equilibrium borrow more than a financial regulator
提供机构：
美国国家经济研究局
创建时间：
2013-12-01
