Hülsewig, Oliver (contributor) - 2004
efiects
of monetary policy on the attraction of investment and saving that prevail
when flnancial markets are complete …
debt service, which pushes up the external flnance premium and curbs investment and
consumer spending.
5
disaggregated … investment and consumer spending by the nonbank
private sector, which in turn stimulates a decline in the output level. As
shown …