Canucks Anonymous: Is deleveraging a symptom or a cause (or both)?Tuesday, 17 August 2010 Is deleveraging a symptom or a cause (or both)? One of the reasons studying RBC models is a worthwhile endeavour, even though the models don't even have a toehold on reality, is that they make you think about a world without money (or debt of any kind). The same goes for endowment economies, Lucas tree models and the like. In an endowment economy intertemporal substitutio
