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Sudden Stops and Output Drops

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NBER2005-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w11133
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In recent financial crises and in recent theoretical studies of them, abrupt declines in capital inflows, or sudden stops, have been linked with large drops in output. Do sudden stops cause output drops? No, according to a standard equilibrium model in which sudden stops are generated by an abrupt
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2005-02-01
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