| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2423 |
| DP2423 Will EMU Increase Eurosclerosis? | |
| Samuel Bentolila; Gilles Saint-Paul | |
| 发表日期 | 2000-04-28 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper uses a VAR to investigate four possible explanations of the extended slump in Japanese economic activity over the 1990s: the absence of bold and consistent fiscal stimulus; the limited room for expansionary monetary policy due to a liquidity trap; overinvestment and debt overhang; and disruption of financial intermediation. The results indicate that all of these factors played a role, but that the major explanation is disruption in financial intermediation, largely operating through the impact of changes in domestic asset prices on bank lending. |
| 主题 | International Macroeconomics |
| 关键词 | Economic slump Financial intermediation |
| URL | https://cepr.org/publications/dp2423 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531506 |
| 推荐引用方式 GB/T 7714 | Samuel Bentolila,Gilles Saint-Paul. DP2423 Will EMU Increase Eurosclerosis?. 2000. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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