Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints
收藏NBER2016-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22971
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资源简介：
This paper characterizes analytically the adjustment of an open economy with a stock collateral constraint to fundamental and nonfundamental shocks. In the model, external borrowing is limited by the value of physical capital. Three results are established: (1) Adjustment to external shocks is
提供机构：
美国国家经济研究局
创建时间：
2016-12-01
