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About 11 e 23 PDF
This document summarizes a discussion paper on the role of default in macroeconomics. The paper argues that modern macroeconomic theories fail to incorporate the possibility of default, including bank default, which is a major deficiency. Incorporating default makes models much harder to construct as it requires abandoning simplistic assumptions. The paper contends that properly including default is crucial for understanding financial intermediation, financial disturbances, and the role of money in the economy.
Detailed Information
| Author: | ['javiern_05'] |
|---|---|
| Publication Year: | 2020 |
| Pages: | 28 |
| Language: | English |
| Format: | |
| Price: | FREE |
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