Optimal Monetary Policy in a 'Sudden Stop'
收藏NBER2007-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w13254
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资源简介：
In the wake of the 1997-98 financial crises, interest rates in Asia were raised immediately, and then reduced sharply. We describe an environment in which this is the optimal monetary policy. The optimality of the immediate rise in the interest rate is an example of the theory of the second best:
提供机构：
美国国家经济研究局
创建时间：
2007-07-01
