Graham, L.;
Wright, S.;
(2005)
Modelling nominal debt contracts and fixed rate debt.
Economics Letters
, 89
(2)
pp. 241-246.
10.1016/j.econlet.2005.06.013.
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Abstract
We provide a simple model of sticky nominal debt contracts and fixed rate debt that can easily be embedded in a dynamic general equilibrium framework. Once linearized, the debt process increases the order of autoregressive dynamics in the system by one; thus potentially introducing more complex adjustment processes.
| Type: | Article |
|---|---|
| Title: | Modelling nominal debt contracts and fixed rate debt |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1016/j.econlet.2005.06.013 |
| Publisher version: | http://dx.doi.org/10.1016/j.econlet.2005.06.013 |
| Language: | English |
| Keywords: | JEL classification: E30, E44 |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/3887 |
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