Real Effects of Nominal Interest Rates
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下载链接：
https://www.nber.org/papers/w35033
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资源简介：
Nominal interest rates have real effects. Residential mortgages and other real world debt contracts require a sequence of constant nominal payments. Combined with payment-to-income constraints, these nominal payments force borrowers to take on less debt when nominal interest rates rise, regardless
提供机构：
美国国家经济研究局
创建时间：
2026-04-01
