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Modelling nominal debt contracts and fixed rate debt

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. Green open access

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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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