Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints
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下载链接：
https://www.nber.org/papers/w26613
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资源简介：
This paper establishes the existence of deterministic cycles in infinite-horizon open economy models with a flow collateral constraint. It shows that for plausible parameter configurations, the economy has a unique equilibrium exhibiting deterministic cycles in which periods of debt growth are
提供机构：
美国国家经济研究局
创建时间：
2020-01-01
