Towards HANK: Investigating interactions between labour and credit-market frictions in a new Keynesian economy
<p>How can the presence of unemployment affect the properties of economic fluctuations and the effectiveness of monetary policy when a fraction of households are also credit-constrained? This paper presents a New Keynesian model with limited asset market participation combined with a search &a...
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| Format: | Thesis |
| Language: | English |
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2019
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