Mortgage Prepayment and Path-Dependent Effects of Monetary Policy
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下载链接：
https://www.nber.org/papers/w25157
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资源简介：
How much ability does the Fed have to stimulate the economy by cutting interest rates? We argue that the presence of substantial debt in fixed-rate, prepayable mortgages means that the ability to stimulate the economy by cutting interest rates depends not just on their current level but also on
提供机构：
美国国家经济研究局
创建时间：
2018-10-01
