Expectation driven business cycles with limited enforcement
2014
Walentin, Karl
We explore shocks to expected future productivity in a model with limited enforcement of financial contracts. A microfounded collateral constraint implies that good news about future productivity yield an increase in stock prices, available credit and a general economic expansion.
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Bibliographic information
Economics letters
Volume
124
Issue
2
Pagination
300
- 303
ISSN
0165-1765
Publisher
Elsevier B.V.
Other Subjects
Collateral constraints; Stock prices; E44; News shocks; E32; E22; Financial agreements
Language
English
Type
Journal Article; Text
2024-02-28
MODS
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