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reliant on bank credit. The credit channel theory states that, for small enterprises, a stricter monetary policy stance …
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heavily reliant on bank credit. The credit channel theory states that, for small enterprises, a stricter monetary policy …
Persistent link: https://www.econbiz.de/10010469551
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In this paper it is described the school of neo-Keynesians (Akerlof and Stiglitz are in the group of "Hard" New-Keynesians, that don't accept New neo-classical synthesis, i.e. Dynamic Stochastic General equilibrium models-DSGE),that as a basic source of instability in the economies view the...
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