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activity is fraught with great risk, which is largely exacerbated by liquidity constraints. This situation is especially …
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The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative effect on the average growth rate of output. This theoretical ambiguity result is not solely determined by the value of the elasticity of intertemporal substitution (of...
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in the model which represent the micro foundation in the model. One of the conclusions is that the more “risk averse” the …
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is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease …
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(Harmonized System 10- digit) bilateral exports to the United States. The patterns in the data are consistent with the theory. The …
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