Liquidity Traps: A Unified Theory of the Great Depression and Great Recession
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下载链接：
https://www.nber.org/papers/w33195
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资源简介：
This paper presents a unified framework to explain three major economic downturns: the U.S. Great Depression, the U.S. Great Recession, and Japans Long Recession. Temporary economic disruptions, such as banking crises and excessive debt accumulation, can drive natural interest rates into negative
提供机构：
美国国家经济研究局
创建时间：
2024-11-01
