reallocated from the private to the public sector, reducing investment and deepening the recession even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …

reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce … other countries in the Eurozone, and how they may be addressed by policies at the European level …

the resources used to acquire public debt reduce domestic consumption and investment. Thus, these crowding-out effects are …

We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output …