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"We analyze financial collapses, such as the one that occurred during the U.S. Great Depression, from the perspective of a monetary model with multiple equilibria.The multiplicity arises from the presence of a strategic complementarity due to increasing returns to scale in the intermediation...
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recent parametric tests this is caused by estimation errors which result when the autoregressive parameters used to describe …
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, in recent parametric tests, this is caused by estimation errors which result when the autoregressive parameters used to …
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