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Media type:
Electronic Conference Proceeding
Title:
Financial Repression in General Equilibrium
Contributor:
Scheer, Alexander
[Author];
Müller, Gernot
[Author];
Kriwoluzky, Alexander
[Author]
imprint:
Kiel, Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, 2017
Language:
English
Origination:
Footnote:
Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
Description:
Financial repression allows governments to borrow at artificially low interest rates. Quantifying financial repression is challenging, because it relies on an estimate of the interest rate which would prevail in the absence of repression. In this paper, we put forward a quantitative business cycle model which features financial repression. We estimate the model on US times series for the period 1948-1979 in order to quantify the extent of financial repression and its impact on the economy.