Real Interest Rates and the Savings and Loan Crisis: The Moral Hazard Premium
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Real interest rates rose to historically high levels in 1980 and remained high throughout the decade. Macroeconomists attribute this phenomenon to a combination of tight monetary policy, fiscal deficits, and variable inflation rates. This paper presents preliminary evidence for an additional
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美国国家经济研究局创建时间：
1991-06-01
