Three papers on macroeconomics with financial frictions
<p><b>Chapter 1:</b> Financial frictions amplify the portfolio balance effect of QE. A costly state verification friction increases output growth by between 0.13 - 0.41 percentage points and increases inflation between 6 - 18 basis points more than the model without the friction. I fin...
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| Format: | Thesis |
| Language: | English |
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2020
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