Managing Financial Crises
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https://www.nber.org/papers/w34410
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资源简介：
In this paper, we revisit the question of how to manage financial crises using the framework proposed by Bianchi and Mendoza (2018). We show that this model economy exhibits a multiplicity of constrained-efficient equilibria, which arises because the private shadow value of collateral influences the
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美国国家经济研究局创建时间：
2025-10-01
