Monetary Easing, Leveraged Payouts and Lack of Investment
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This paper studies a model in which a low monetary policy rate lowers the cost of capital for entrepreneurs, potentially spurring productive investment. Low interest rates, however, also induce entrepreneurs to lever up so as to increase payouts to equity. Whereas such leveraged payouts privately
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美国国家经济研究局创建时间：
2019-11-01
