NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Aggregate Implications of a Credit Crunch

Francisco J. Buera, Benjamin Moll

NBER Working Paper No. 17775
Issued in January 2012

---- Acknowledgements -----

We thank Manuel Amador, Marios Angeletos, Roland Bénabou, Markus Brunnermeier, Mike Golosov, Urban Jermann, Patrick Kehoe, Guido Lorenzoni, Stephen Redding, Richard Rogerson, Esteban Rossi-Hansberg and seminar participants at Princeton, the Federal Reserve Board of Governors, Rutgers, Minneapolis Fed, Wharton, Georgetown, NYU, Boston University, MIT, Ohio State, ASU, Université de Montréal and 2011 NBER Summer Institute and Minnesota Workshop in Macroeconomic Theory for useful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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