Code: 17419990
We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to nancial frictions interacting with the zero lower bound. We reach this conclusion looking through the lens of a N ... more
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We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to nancial frictions interacting with the zero lower bound. We reach this conclusion looking through the lens of a New Keynesian model in whic
13.91 €
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