| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15197 |
| DP15197 Bubbles against Financial Repression | |
| Guillaume Plantin | |
| 发表日期 | 2020-08-24 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | During a financial crisis, a central bank temporarily subsidizes the interest rate so as to maintain borrowing at normal levels. Savers may search for yield and blow rational stochastic bubbles that generate a higher expected return than the policy rate before bursting at the end of monetary easing. Unlike standard rational bubbles, that are not monetary phenomena, these bubbles are “bad” in the sense that they crowd out investments that would otherwise generate a higher expected return than that on the bubbles. |
| 主题 | Financial Economics ; Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp15197 |
| 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/544167 |
| 推荐引用方式 GB/T 7714 | Guillaume Plantin. DP15197 Bubbles against Financial Repression. 2020. |
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