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Replication data for: Sticky Leverage

Version
V0
Resource Type
Dataset
Creator
  • Gomes, João
  • Jermann, Urban
  • Schmid, Lukas
Publication Date
2016-12-01
Description
  • Abstract

    We develop a tractable general equilibrium model that captures the interplay between nominal long-term corporate debt, inflation, and real aggregates. We show that unanticipated inflation changes the real burden of debt and, more significantly, leads to a debt overhang that distorts future investment and production decisions. For these effects to be both large and very persistent, it is essential that debt maturity exceeds one period. We also show that interest rate rules can help stabilize our economy.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20130952 (Text)
Publications
  • Gomes, João, Urban Jermann, and Lukas Schmid. “Sticky Leverage.” American Economic Review 106, no. 12 (December 2016): 3800–3828. https://doi.org/10.1257/aer.20130952.
    • ID: 10.1257/aer.20130952 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Gomes, João; Jermann, Urban; Schmid, Lukas (2016): Replication data for: Sticky Leverage. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112936