LAUSR

Costly default and skewed business cycles

Sign Up to like & get
recommendations!
1 Published in 2021 at "European Economic Review"

DOI: 10.1016/j.euroecorev.2020.103630

Abstract: Abstract We augment a simple Real Business Cycle model with financial intermediaries that may default on their liabilities and a financial friction generating social costs of default. We derive a closed-form solution for the general… read more here.

Keywords: skewed business; default; business cycles; default skewed ... See more keywords