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Optimal Bank Reserve Remuneration and Capital Control Policy

By: Contributor(s): Material type: TextTextPublication details: American Economic Journal: Macroeconomics; 2025Description: 203-244ISSN:
  • 1945-7707
Subject(s): Online resources: Summary: A central prediction of open economy models with a pecuniary externality due to a collateral constraint is that the unregulated economy overborrows relative to what occurs under optimal policy. A maintained assumption in this literature is that households
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Article Index Article Index Dr VKRV Rao Library Vol. 17, No. 1 Not for loan AI1239

A central prediction of open economy models with a pecuniary externality due to a collateral constraint is that the unregulated economy overborrows relative to what occurs under optimal policy. A maintained assumption in this literature is that households

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