 | The Costs of Macroprudential Deleveraging in a Liquidity Trap Author/Editor: Jiaqian Chen, Daria Finocchiaro, Jesper Lindé, Karl Walentin. Release Date:June, 2020 We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing more...
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