The Costs of Macroprudential Deleveraging in a Liquidity Trap /
We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs and a zero-lower bound constraint on policy rates. We find that the long-term costs,...
| المؤلف الرئيسي: | |
|---|---|
| مؤلفون آخرون: | , , |
| التنسيق: | دورية |
| اللغة: | English |
| منشور في: |
Washington, D.C. :
International Monetary Fund,
2020.
|
| سلاسل: | IMF Working Papers; Working Paper ;
No. 2020/089 |
| الوصول للمادة أونلاين: | Full text available on IMF |