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経済政策運営のためのマクロ経済学理論の再構築 - himaginary’s diary
一昨日スティグリッツのNBER論文を紹介したが、以下はスティグリッツが9月にアップした別のNBER論文「Reconstructing Macroeconomic Theory to Manage Economic Policy」の要旨。 Macroeconomics has not done well in recent years: The standard models didn't predict the Great Recession; and even said it couldn't happen. After the bubble burst, the models did not predict the full consequences. The paper traces the failures to the attempts, beginning in the 197
soma28 2014/10/02
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流動性の罠と過剰レバレッジ - himaginary’s diary
というNBER論文（ungated版）をAnton Korinek（ジョンズ・ホプキンス大）とAlp Simsek（MIT）が書いている。原題は「Liquidity Trap and Excessive Leverage」。以下はその要旨。 We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in agg
soma28 2014/03/23
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