Barbar, Riham; Bosi, Stefano - Centre d'Études des Politiques Économiques (EPEE), … - 2008
In this paper, we study the effects of collaterals on business cycles and growth in monetary economies with credit market imperfections. We consider an endogenous growth model with a partial cash-in-advance constraint and inelastic labor supply. We assume that the share of consumption purchases...