The Quarterly Journal of Economics· 2012Q1
Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
- 1,432citations
- Q1SCImago
- 2012year
Short summary
A new Keynesian model shows how debt overhangs and forced deleveraging can depress aggregate demand, leading to debt-driven slumps and liquidity traps.
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General Economics, Econometrics and FinanceEconomics, Econometrics and Finance