Credit Crises, Precautionary Savings, and the Liquidity Trap
收藏NBER2011-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w17583
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资源简介：
We study the effects of a credit crunch on consumer spending in a heterogeneous-agent incomplete-market model. After an unexpected permanent tightening in consumers' borrowing capacity, some consumers are forced to deleverage and others increase their precautionary savings. This depresses interest
提供机构：
美国国家经济研究局
创建时间：
2011-11-01
