Liquidity Trap and Excessive Leverage /
We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in aggregate demand. However...
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| Format: | Czasopismo |
| Język: | English |
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Washington, D.C. :
International Monetary Fund,
2014.
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| Seria: | IMF Working Papers; Working Paper ;
No. 2014/129 |
| Dostęp online: | Full text available on IMF |