Nominal Debt as a Burden on Monetary Policy
收藏NBER2007-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w13677
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资源简介：
We characterize the optimal sequential choice of monetary policy in economies with either nominal or indexed debt. In a model where nominal debt is the only source of time inconsistency, the Markov-perfect equilibrium policy implies the progressive depletion of the outstanding stock of debt, until
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美国国家经济研究局创建时间：
2007-12-01
