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safeguarding financial stability, with the world economy still in the process of digesting the legacy of the crisis. The crisis has …-easy monetary policies last? What are post-crisis growth trajectories, and how will the natural rate of interest rates evolve? How … smoothly? Does ultra-easy monetary policy itself affect the economy in a lasting and structural way? Is the pre-crisis economic …
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The idea of the <em>Squam Lake Report</em> was to bring together some fifteen leading U.S. financial economists to see …
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This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for a comprehensive assessment of regulatory and monetary policy, as well as welfare analysis in the different sectors of the economy. Due to liquidity and endogenous default, the...
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