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understand sudden change of the interest rate and exchange rate volatility in "tranquil" and "volatile" regimes even under a …
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We introduce frictional financial intermediation into a HANK model. Households are subject to idiosyncratic and aggregate risk and smooth consumption through savings and consumer loans intermediated by banks. The banking friction introduces an endogenous countercyclical spread between the...
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Resonanzboden der Finanzmarkt ist, mit einem veränderten Transmissionsmechanismus konfrontiert. Die Regulierung, die das systemische …
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