Productivity booms, bank fragility, and financial crises
While financial crises tend to be preceded by economic booms, most booms do not end with crises. Crises typically occur when booms are interrupted by persistent slowdowns in productivity growth. I develop a model in which risk of crisis emerges endogenously during boom because of increased fragility...
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| 格式: | Working paper |
| 語言: | English |
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University of Oxford
2022
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