Kobayashi, Keiichiro; Nutahara, Kengo - In: Economics Bulletin 5 (2007) 18, pp. 1-9
Kobayashi, Nakajima, and Inaba (2007) show that in the neoclassical business cycle models with collateral constraints … call this business cycle a news-driven cycle. In their models, land is used as collateral, and borrowing for working …