Collateral constraints and the amplification-persistence trade-off
This note shows - in a general-equilibrium, two-agent model featuring concave utility and production functions and neo-classical input accumulation - that the amplification and persistence of the impact of temporary shocks to aggregate productivity go hand in hand.
Year of publication: |
2011
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Authors: | Pintus, Patrick A. |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 110.2011, 1, p. 64-66
|
Publisher: |
Elsevier |
Keywords: | Collateral constraints Amplification and persistence of aggregate shocks |
Saved in:
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