Safe Asset Scarcity and Aggregate Demand
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We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming environment. Acute safe asset scarcity forces the economy into a safety trap recession. In the open economy, safe asset scarcity spreads from one country to the other via capital flows,
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美国国家经济研究局创建时间：
2016-02-01
