Indebted Supply and Monetary Policy: A Theory of Financial Dominance
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下载链接：
https://www.nber.org/papers/w34798
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资源简介：
We develop a New Keynesian model with financial frictions to study how corporate capital structure shapes static and dynamic monetary policy tradeoffs through the supply side. Ex post, when corporate leverage is high, monetary tightening contracts both demand and supply. As a result, the Phillips
提供机构：
美国国家经济研究局
创建时间：
2026-02-01
