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Persistent link: https://www.econbiz.de/10001032293
This paper identifies a novel connection between the banking sector and economic growth. I consider strategic competition among banks in an economic growth model with externalities. The allocation delivered by the banking sector is proven to be different from that in the Walrasian equilibrium...
Persistent link: https://www.econbiz.de/10005699568
In this paper we consider the properties of a simple test of parameter restrictions based on standard two-step efficient GMM estimators. The test is computed simply as the difference between the minimised values of the GMM criterion function in the restricted and unrestricted models. We compare...
Persistent link: https://www.econbiz.de/10005231103