Beautiful Cycles : A Theory and a Model Implying a Curious Role for Interest /
Where do economic cycles come from? This paper contemplates an utmost minimalistic model and underlying theory that rest on two assumptions for letting them emerge endogenously: (1) the presence of interest-bearing debt; and (2) a degree of downward nominal wage rigidity. Despite its parsimony, the...
| Auteur principal: | |
|---|---|
| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
2021.
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| Collection: | IMF Working Papers; Working Paper ;
No. 2021/067 |
| Accès en ligne: | Full text available on IMF |