Public Debt Bubbles, Liquidity, and Risk: Policy Assessments Based on the Zero-Beta Interest Rate
收藏NBER2025-06-01 更新2025-06-14 收录
下载链接：
https://www.nber.org/papers/w33897
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资源简介：
This paper studies stationary equilibria in a novel class of analytically tractable incomplete markets models with a public debt bubble (meaning that the interest rate r on riskfree government bonds is less than the growth rate). Within the models, the return r to physical capital can exceed r
提供机构：
美国国家经济研究局
创建时间：
2025-06-01
