Procyclical leverage and procyclical liquidity

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1. Write an essay on the transformation of credit in the US economy. How did this happen (key events and new financial products?)? How has macroeconomics accounted for this transformation?

2. Explain the terms ‘procyclical Leverage’ and ‘procyclical liquidity.’ What are their implications for macroeconomics?

3. Explain the key monetary macroeconomic debates and their relative importance.

Reference no: EM131393617

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