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...
| Hlavní autor: | |
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| Médium: | Časopis |
| Jazyk: | English |
| Vydáno: |
Washington, D.C. :
International Monetary Fund,
2021.
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| Edice: | IMF Working Papers; Working Paper ;
No. 2021/067 |
| On-line přístup: | Full text available on IMF |