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...
| المؤلف الرئيسي: | |
|---|---|
| التنسيق: | دورية |
| اللغة: | English |
| منشور في: |
Washington, D.C. :
International Monetary Fund,
2021.
|
| سلاسل: | IMF Working Papers; Working Paper ;
No. 2021/067 |
| الوصول للمادة أونلاين: | Full text available on IMF |