Financial Repression in General Equilibrium

Alexander Scheer, Gernot Müller and Alexander Kriwoluzky

VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association

Abstract: Financial repression allows governments to borrow at artificially low interest rates. Quantifying financial repression is challenging, because it relies on an estimate of the interest rate which would prevail in the absence of repression. In this paper, we put forward a quantitative business cycle model which features financial repression. We estimate the model on US times series for the period 1948-1979 in order to quantify the extent of financial repression and its impact on the economy.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168301

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