Wang, Pengfei; Wen, Yi - 2009
, Borrowing
Constraints, Heterogenous Firms, Business Cycle.
JEL codes: D21, D58, E22, E32.
We thank John Haltiwanger and Thomas … business-cycle analyses under aggregate shocks
without having to worry about the optimality of an always-binding borrowing … by
increased R&D innovations. Kaas (2009) develops a real business cycle model with idiosyncratic
productivity shocks and …