金融危机“后”的经济模型——通货紧缩平衡与债务速度调整

作者 小林庆一郎(教职研究员)
发表日期/编号 2019年10月 19-P-027
研究课题 经济增长的综合性分析:微观、宏观、政治思想的研究
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概要

This paper compares the standard models of macroeconomics before and after the global financial crisis. It shows that the standard models cannot address crucial issues such as the growth and collapse of asset-price bubbles and the deflationary stagnation in the aftermath of the crisis. The problem comes from the transversality condition (TVC). We consider a new theoretical model in which the TVC does not hold in the equilibrium. The findings present new implications for the deflationary equilibrium and growing government debt.